In-hand salary refers to the amount of money that an employee receives after all deductions such as taxes, insurance, and other contributions have been made. In India, an employee with a salary of 3 LPA (lakhs per annum) can expect to have an in-hand salary of around Rs. 22,000 to Rs. 25,000 per month.
The in-hand salary calculation depends on various factors such as the company’s policies, employee’s tax bracket, and location. Additionally, deductions such as Provident Fund (PF), Employee State Insurance (ESI), and professional tax may also be applicable, further reducing the net salary.
It’s essential for job seekers to consider the in-hand salary while negotiating job offers to get a better understanding of the actual amount they will receive. Knowing the in-hand salary can help individuals plan their expenses and savings better.