N

Net Salary

Definition

The amount an employee takes home after all deductions such as taxes, provident fund (PF), professional tax, and insurance are subtracted from the gross salary.

Context & Importance

Net salary is a critical figure in payroll and financial planning for both the employer and employee.

Use Cases

• Displayed on payslips.
• Used to assess loan eligibility.

Related Concepts

Gross salary, CTC, payroll deductions.

TankhaPay Relevance

Automatically calculates net salary after statutory and custom deductions within payroll reports.