What deductions are included in the salary calculator's calculations?

A salary calculator typically includes several standard and additional deductions to provide an accurate net salary estimate. These deductions often comprise:

• Income Tax: Calculated based on applicable tax slabs and rates.
• Provident Fund (PF): Mandatory retirement savings scheme contribution.
• Professional Tax: A state-level tax deducted by the employer.
• Health Insurance Premiums: Deductions for employer-provided health insurance plans.
• Allowances: Adjustments for housing rent, transport, and meal coupons.
• Bonuses: Any bonuses included in your Cost to Company (CTC) package. These may be distributed annually or quarterly.
• Employee Stock Options (ESOPs): If applicable, the value of stock options granted as part of the compensation package.
• Other Benefits: Deductions for benefits like club memberships, leave travel allowances, and education allowances.

Accurately entering these details ensures the salary calculator gives a precise net salary figure, reflecting all components of your compensation.