What is the difference between CTC and Net Salary and Gross Salary? | Ankur Warikoo Hindi Video
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- čas přidán 2. 06. 2024
- What is a #SalarySlip?
What is the meaning of gross salary, CTC and net salary?
How are these components of salary slip different from each other?
00:00 Introduction
01:04 What is CTC?
03:41 What is gross salary?
04:37 Basic Salary explained
06:37 What is HRA?
08:57 Medical Allowance
09:32 Special Allowance and its categories
11:19 How your yearly tax is calculated
14:51 What is Provident Fund?
15:59 What is gratuity?
16:38 Corporate health insurance
17:59 How to increase your in-hand allowance?
#warikoo #moneytips
The salary that we are told as CTC is widely different from what is credited in our bank account, and most of the time we do not know where the money went. The answer is the salary slip. It has all the details - about our house rent allowance, special allowances, and also the tax deducted.
In this simple to understand video, I will give you a step-by-step explanation of all the components of your salary slip, which will also give you a more clear understanding of all the #taxes that were deducted before the salary that got credited in your account.
If you have further questions, feel free to ask them in the comments section below.
Click here to subscribe to my CZcams channel: shorturl.at/bizNX
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Ankur Warikoo is an entrepreneur, an angel investor, a mentor and an active public speaker.
For the past 4 years, #Warikoo has been actively sharing content on CZcams, LinkedIn, Instagram, Facebook and Twitter amassing a following of 1.8Mn+ people.
He posts 3 Hindi and English videos every week on his CZcams channel, where he talks about entrepreneurship, how to grow in life, personal finance and failure.
Warikoo started his entrepreneurial journey in 2008. His most recent startup is nearbuy.com where he was the founder and CEO from 2015 until 2019.
Prior to that, Ankur started Groupon’s India business in 2011 and acted as the Country CEO from 2011-15, and Head of Groupon APAC from 2013-15.
An alumnus of the Indian School of Business, Ankur is an active Angel investor and mentor to several startups.
Ankur has been part of Fortune Magazine’s 40 under 40 List for India, LinkedIn India’s PowerProfiles List, LinkedIn India’s Spotlight List and India’s Top Executives under 40 list.
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This is what we need our HR to tell us....but they are busy in rangoli competition 🤦🏻🤦🏻 Thank you Ankur...you are awesome 👍
HAHA
They won't tell, it's strategy by every organisation
😄😄😄
hahahahahahahahahaha
😂😂😂
After 4 yrs of working today I understood CTC completely , and from 20-21 I am paying tax for 1st time this was very useful thank you
Did not know Madara has to pay taxes. To akatsuki?
SAD DAY to see madara pay taxes :/
NANI..
Thanks for sharing this knowledge. Is pf deduct from the gross salary?
@@sudiptosadhukhan1580 gross salary is ctc - all deductible. So pf comes in deductible
A suggestion. Could create a playlist specifically meant for someone who is just beginning her/his career? I wish I had someone like you to set the correct course of action when I started my career.
I want him to do this as well.
But most people work in startups where ctc and in hand are the same not beneficial to many
Iam a fresher and I have got a job offer yesterday.I got the offer letter accepted it and I notice 2 issues with it now:
1) Basic salary is 52% of gross salary
2) HRA allowance is only 45%(for metro cities like banglore it should be 50% right?
Can someone tell me if I need to talk to HR regarding this?
Please share ur valuable knowledge!🙂
I am so scared of not being financially educated. Hope I get there soon.
The closing talk is so touching!
So much of useful information!The best part is, to explain abt payslips, u didn't go with a computer screen recording video with G-sheets calculations, u nailed it by the way u articulate things👌🏻😍👏🏻
Here I am just 17 year old but watching this video to gain knowledge as in 4 years I will be earning one💯🙏
Same here I am 19
I am 15
@@specsboy6610 me too
Bro learn communication stock market and you get as much knowledge of your field all the best 👍🏻
I also 17
Itna accha kisine aaj tak nahi samjhaya tha....hats off and by heart thank you so much sir.....writing comment on 3.44 am 23 nov. 2022 with smile 😊
Great videos sir! A small error in your video - the HRA is the minimum of (Actual Rent Paid - 10% of Basic Salary, and other two) instead of the minimum of (10% of Basic Salary and other two options).
did he meant 10% of gross salary & 50%-40% of basic salary?
In my salary slip it is 5% of basic
@@rushikeshkatkar7249 yes
Agreed, this is correct.
@@jaishivnani7768 how 5%, how it can be such low
Really liked the way you concluded saying that don't look for shortcuts, be genuine with your bills and don't do anything that damages your reputation while going against the laws of our nation!
Hats off :)
I am binge watcher of your channel. And this is by far my most favourite video of yours. I can see a lot of genuine care; thirst and satisfaction in sharing knowledge to others, in your presentation. Keep up the good work brother. You are a gift to a lot of people like me 👍
This is the kind of teacher we all want. Very well explained sir!
I can't tell you how much this has helped. I am new to this and didn't understand where all these numbers and percentages are coming from and how they are calculated. Thanks a lot
With all the compliance training companies make us go through every year, they should make this video mandatory too.
I wish somebody had told this to me before. Informative as usual! I eagerly wait for 3 videos + 1 live every week!! :)
I have been a working professional since one and a half years...though not in the tax bracket yet...but yes it is today I understood my salary slip and the benefits I can get if I follow this video wisely... thank you so much sir🙏😁
This is Best Explanation I've seen on CZcams. Kudos to you ! Dil Jeet Liya !
I love the way he explain all these things with so much ease. Love to Team Warikoo.
It's been 5 years since I working but never put focus on my salary slip.really nice information you have shared, it would be great if you make video on how someone can plan their investments which will be helpful in tax saving as well as for their own savings. specially for people who are in mid 20s they knows they are paying taxes but how to control them have no idea.
Now connected to you via newsletter, linkedin, Instagram and now YT.. jahan se gyan mil rha h lelo re baba..❤️❤️
WOW even my HR didn't explain me in such a way. I thanks a lot. I use to hate finance coz numbers used to go out of my head but after watching your video now I realized how interesting finance can be. Thanks a lot number.
Sir I am about to start my job and knowing this before my job was really eye opening.
Thanks for sharing
I feel I'm getting smarter by watching your videos and applying those in real life..
The best explanation on salary slip out of all the videos I have seen till now🙏
I am definitely going to watch this whole video fro 3 more times. Vo kehte hai na "the more you listen, the more you learn"
Amazingly explained.
Ankur - you are doing a great job in simplifying financial literacy for all which ideally should be taught in school/college before one starts earning. Having a finance background I often take these topics (e.g. savings vs investment, taxability, rent vs buy) for granted and have analyzed these myself before making finance decisions, but reading the comments on your posts I am amazed how many folks are not aware of implications of these topics on their personal finances and a big impact on their life as well. Kudos, more power to you!
Had been working in Wipro from past 3 years, Didn't know the full form of CTC.
Although I know the gross salary, CTC ,tax ,PF , Gratuity etc. but I still enjoyed the video, ..This is what my mom was saying,teach someone like you are teaching a kid, Amazing series sir
Wow! I'm just a college student and Iam, on a regular basis, learning so much from you which is going to make me a much more wise individual going ahead. Thank you sir!
Life me itni clarity chahiye. Thank you so much Ankur for this video!!!
Super video! Very very informative. This should be a part of the pre-placement curriculum for each student. I wish I had learned this sooner.
I wait eagerly for your videos on Tuesday , Thursday and Saturday.
This is so helpful and I've been seeking someone's advice on this for so long!! Thank you so much for sharing such valuable knowledge and I pray that you are blessed abundantly!!!! Thank you so much!!!!
Good information. Its been 2 yrs, I am working in a company and don't know the facts about the payslips. Thanks for this useful knowledge.
Thanks, we were all so lazy to even look for these terms in our Salary Slips. Grateful for this video :) Make one video on Understanding TAX.
It's a bite-sized video for all the graduates, with a whole lot of knowledge which is both crucial and easy to grasp.
You're such an eloquent person. Thanks for this amazing video.
Looking forward for more related, in-depth videos !
Such a great salary break-down illustration . I am an Newbie to the corporate world. Thanks for this
Hello Ankur, I have subscribed today to this lovely valuable channel.. Yesterday I found one of your video and started to watch videos one by one. This channel is worth more than million subscribers. Thanks alot for motivating and sharing things that every one should know!!
The special allowance fact blown my mind.
Sir can you explain this by actually
Using salary slip .
Sir, your videos are well connected to the audience and to the point communication.
In this video, i just want to mention one correction in HRA section - it should be 1) [Actual rent - 10% of basic] and not [10%of basic].
A video which every worker must watch,very well explained with subs
Thank you sir been trying to understand it for a month, I would say this so well explained that even a 5 year old would understand.
Congrats for 100K!!🎉
The Most Informative Channel on YT!!🙏
Its 1m+ now
Thank you for this profound knowledge sir ❤️ We often start getting paid without even being aware of these nitty gritties which are so important 👍
a very informative video! with an in depth explanation on each salary components, tax info, your teaching method.. this will go a long way for everyone who isn't aware of it.. thanks much!!
Nice video sir, Helped me in breaking down my salary slip, and that Basic Salary Component explanation gave me relief.
Thank you for this.. I just started working and needed this information. Thanks again
Glad this helps! All the best for your job 🙂
Thank you so much for this video, this is much needed one :)
Most Underrated channel !
Please make more such videos.
Appreciate your effort🙏
Forgery Rent Receipts that you mentioned was right on spot, many can relate. A lot of landlords deprive Tenants of any bills or any official online transfers but rather ask Rent in terms of Cash. Haha tax saving for them but a big loss to the Tenant. Pretty informative THUMBs UP.
I am Chartered Accountant by profession and i loved the way how you explained Basic Salary as an arbitrary number.
For Medical and Conveyance Allowance, now there's a standard deduction of Rs. 50,000/- .
Also, for PF 12% is on (Basic Salary + Special Allowance) after Supreme Court Decision.
Ankur, you will rock as a teacher man! you have the skill of captivating an audience. kudos !
Getting this knowledge from a seasoned experienced person for free is nothing short of a boon. Thank you sir.
You’re trying to cover basics of all topics that matter to you and are important to all people. Appreciate that
Thank you so much
Thanks
There is also this problem with having a small number for basic salary which is that when you quit your job, most payments like Leave Encashment, Gratuity, etc are most of the times calculated based on the Basic Salary. So it is a trade off between paying more potential tax and receiving less end-of-employment benefits... basically.
Also, @11:50 it is not clear whether you mean 20% of 100 is 2 or are you rounding up 20 tax per month would be 2.
Thank you for this, highly informative, especially for people starting off in the corporate world 💯
This was so helpful. Thank you so much guiding us on this.😃
Hey Ankur.. Thanks for all the great content you are creating. I have one question to which I could not find any simple answer yet. How does compounding works for Stocks and Mutual Funds?
Great video, extremely helpful as always.
A minor correction - The HRA exemption is calculated on the basis of 3 components as correctly described. But the 1st component is "Actual rent paid minus 10% of Basic salary (plus DA if applicable) ", instead of '10% of basic'.
Anyway, keep up the great work! Amazing content 😃
Can only the actual House rent be considered as HRA?
And he mentioned gross is the closest to take home instead of Net? Was that correct too?
Really helpful video!!Keep making this type of videos... Thanks a lot sir 🙏
Sir, your videos are excellent in terms of your presentation, explanation, your communication, the way you speak...and everything. Great going, Keep it up !
Happy 100k Ankur keep growing!🔥🔥🔥 (Don't mind me calling you Ankur just felt like I wanted to cause sir doesn't feel right)
The apt title should've been "Deciphering your Salary Slip". Thanks a lot.
But that wouldn't add up to search engines ; and Click bait ...
Thoughtful video. Sir, I appreciate your efforts. Very very helpful!
Top notch explanation of all terms!! Helped me to clear my confusion
According to your video the gross salary can be considered as in hand salary.then how to negotiate salary while applying for another job,gross or ctc🙄.Anywayss the video was extremely helpful 🙂
HRA is not 10% of Basic. It's Actual Rent Paid - 10% of Basic.
Quite rightly pointed out. HRA's one component of measurement is RENT PAID - 10% BASIC
Yes, or HRA or 50% of Basic, whichever is lowest of the 3
So like in the covid situation when everyone is working from home, we are still getting HRA so we are not paying any rent. So how do we submit rent receipts? Or claim deduction for not using HRA?
@@vasavshah7617 if you are getting HRA but not actually expending on rent, then you cannot claim HRA deduction in your income tax filing
And here I was calculating 10%of basic again and again. 🤣 and the amount was coming very less like 1000-1200 for my 8k house rent.
And I was like WHAT 😨only 1000 rs HRA for my 8k rent
This is your first video that I have watched. Very informative and useful video. A new subscriber added to your channel!
this video is so helpful luckily i understood this all game play with ctc in first year of my career. This is the kind of knowledge that has to be imparted in colleges.
Day 1
Discussed about purchasing a home, you uploaded a video on the topic
Day 2
Talked about ESOPs/ESPP with fellow colleagues and you upload a video on the very same topic
Day 3
Was searching for insurance and asked a few friends about it, ended up finding a video on insurance on your channel!
Please keep on making such amazing videos Ankur🥳
Many companies just cut Rs 200 /- as professional tax and give the remaining amount(for example Rs 30000-200=Inhand Rs 29800). Can you please shed some light on it?
Your ctc is below tax slab
Deductions
Great point. So many companies more than 50 staff only deduct professional tax only. Why is like that?
I am about to join my first corporate job, thank you sir 💜 it's really helped to break down and understand the slip
aaj tak bas kabhi tax saving pe dhyan hi nahi diya, 7 months ho gaye meri salary taxable ho gayi aur ab tk mene koi kuch submit nahi kiya ab next financial year pe submit krunga aur is video me tax ka bhi cover kiya isliye thank you so much, definitely must have knowledge hai finance and tax.
Great video as always, sir! I have joined my first company as a fresher Software Dev and you have been a great mentor. There's just one correction that I would like to point out. At 19:08 - The first formula for calculating your HRA is not correct. It's not 10% of Basic. It's actually Your Rent - 10% of Basic. Hence your HRA will be a Minimum of: -
1. Your rent - 10% of basic
2. 50% of basic if in Metro or 40% of basic if in Non-metro
3. Your actual HRA set by company
Yes, that is correct, he stated incorrect calculation in the video.
In covid times companies are hiring freelancing consultants more instead of permanent employees.
Can you please advise how and where Freelancing IT Consultant can do tax saving & file return e.g 44ADA etc
Your concept are easy to understand & highly motivating cum interesting via CZcams video. If possible Please make video on the same
Thank you so much.. This video made my life much easier!
It's really amazing... Thank you so much Sir for this very knowledgeable video
Looking at my salary slip now, I see, there is another component which is professional tax which is deducted every month and I believe that is imposed by our state government. Great video Ankur!
Hi, in case of any assistance in filing your income tax return feel free to ping me.
Im a fresher and this was EXACTLY what I was discussing today with coworkers. Your video was extremely helpful Ankur and I've mailed you as well, would be grateful if you could reply :) thank for the work u do❤
Iam a fresher and I have got a job offer yesterday.I got the offer letter accepted it and I notice 2 issues with it now:
1) Basic salary is 52% of gross salary
2) HRA allowance is only 45%(for metro cities like banglore it should be 50% right?
Can someone tell me if I need to talk to HR regarding this?
Please share ur valuable knowledge!🙂
Explained really well, each and every point is covered. Hope i knew this 3 years ago as i shifted from Govt job to private. Knew nothing abt corporate salary structure. Video is a must watch for all young newbie salaried people.
Hello Ankur
Thanks for sharing this important information .
Your content is pure GOLD 🤘
Most often, CTC is broken down into "Fixed + Variable" components.
How does this idea of "Fixed + Variable", fit into the discussion of this video?
Ankur Warikoo is a blessing to YT. Really informative video
Thank you ☺️☺️
I am in class 11 but following you sir.
Because you always provide me a new perspective to see this society and world.❤️❤️❤️
I really don't have idea about all these taxes. So thankyou sir for explaining simply 🙏🏼❤️
Hey, this was a really good explanation. Finally got to know what CTC means. Can you suggest a good place to learn about tax, saving taxes, and investments?
Investments are not to be done if you dont understand taxes.
Well this video is a good example for tax knowledge as 90% come under this.
Thank you for this
👍🙏
☺️
Wow! Such an informative video😊 Thanks a lot!
Being a prudent financial individual is important.
Thank you for sharing a good content sir.
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it's not about watching videos and wasting your time on strategies, I was ignorant doing so.. So I decided to try Mrs Sonia and ever since then she has made about $14,000 for every $5,000 I invested just in two weeks
I got scammed in this CTC trap. That time I wasn't know about this much.
Wo company walo aisa hi karte hain
Your information is very crystal and clear .. thanks for the informative video
Amazing completely understood 🙌
with the coming rule from April 2021, the Basic Salary could not be less than 50% of your CTC.
Im in final year and I just got placed. Pls let me know how to manage my finances as it seems confusing and scary
Coming soon :)
@@warikoo thank you!☺
@@warikoo gg
@@warikoo hi Ankur, it was an informational video. Thank-you for making this video. a little more written example could help more, please consider it for any next video in this topic.
Your contents really add a lot of value. Thanks for sharing such amazing and insightful videos.
Really lots of queries sorted... Thank you
"Itna tax kyu de RAHI ho tum"
I might too have judged him for using a feminine example when it comes to taxes and finances...but if people observe in his other videos....he generally uses feminine pronouns. So I'm sure ...it isn't a stereotype🙂
Wow, thanks for noticing
Yes he uses faminine eg in all the videos.
Because of seagram's 💿 imperial Blue
Karen girl
Hello warikoo, So how to negotiate while asking for CTC ?
This is going to b very usefull in my hr interview , thankyou❤
What a Video.. Thanks A lot for such a wonderful Video so informative..