Payroll Calculator – Sumopayroll

Payroll calculations usually constitute 4 main components – Basic pay, Allowances, Deductions, and IT Declarations.

Gross Pay
Gross Pay is the sum of Basic pay + Allowances.

Net Pay
Net Pay is the difference between Gross Pay – (Deductions + Total TDS). Total TDS is the sum of TDS, Surcharge, Health & Education Cess.

Basic Pay
Basic Pay is 50% of Gross salary (Gross * 0.5)

HRA
The amount received as the HRA from the employer. Actual rent paid less 10% of the basic salary and 50% of the basic salary if staying in a metro city and 40% in a non-metro city.

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