Gross salary includes your basic salary, house rent allowance (HRA), provident fund, leave travel allowance (LTA), medical allowance, Professional Tax etc. Gross salary is your salary before any deductions are made from it.
Before we get started, here are a few salary-related terms you need to know:ĬTC (Cost to Company) is your total salary package that includes all benefits spent on you by the company without any tax deductions. The salary amount is usually mentioned in your offer letter or you can find it in your payslip as well.ĭo you find your salary slip confusing? Allow us to break it down for you. Salary is the fixed amount of money every professional employee gets for their work at the end of each month (don’t you eagerly look forward to this day each month?).
