Use this calculator to help you determine the impact of changing your payroll deductions. You can enter your current payroll information and conclusions and compare them to your proposed assumptions. Try changing your tax withholding, filing status, or retirement savings, and let the payroll deduction calculator show you the impact on your take-home pay.
What is a Paycheck Calculator?
The salary calculator is a simulation that calculates your take-home salary, and it is the total salary an employee gets after all the necessary deductions. The salary calculator consists of a formula box, where you enter the Cost To Company (CTC) and the bonus included in the CTC. The salary calculator will show you the deductions such as the employer and employee provident fund, professional tax, employee insurance, and the take-home salary.
List of benefits of using the Paycheck Calculator
- The ClearTax Salary Calculator will calculate your take-home salary in seconds.
- The calculator shows the changes in salary structure if you get a bonus. You get to know the benefits under a new compensation package.
- The ClearTax Salary Calculator shows you the various components of your salary.
- You get an idea of your contribution and the employer's contribution towards your employee provident fund.
How to use Paycheck Calculator?
Step #1: Enter your current pay rate and your working hours.
Step #2: Choose increment pay type and pay raise.
Step #3: Select your fiat currency
Step #4: press Calculate and get your result. Also, you can clear your current data and check your history.
Hike Converter is used to check how much you're got a salary hike. Also, you will find accurate information of how much salary increment you got in percentage.
Step #1: Enter current CTC and the hiked percentage.
Step #2: Press calculate to know how much salary increment you got. Suppose you know the exact percentages of your salary increment.