What you bring home after all your Deductions? *

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Gross Pay
B	Savings
C	Annual Pay
D	Net Pay

Explanation:

Detailed explanation-1: -Net salary, also known as take-home salary, is the amount of money that you will receive after all deductions. The deductions are made from the CTC and include things like income tax, Professional tax, Public Provident Fund (PPF), etc. Net salary is usually lower than the gross salary.

Detailed explanation-2: -Gross pay is what employees earn before taxes, benefits and other payroll deductions are withheld from their wages. The amount remaining after all withholdings are accounted for is net pay or take-home pay.

Detailed explanation-3: -Net income (NI) is calculated as revenues minus expenses, interest, and taxes.

Detailed explanation-4: -The formula to calculate net salary is quite simple. Net Salary = Gross Salary-Deductions.

There is 1 question to complete.