Difference between Gross and net Salary [with example]
The difference between gross salary and net salary is an important concept in understanding your overall compensation. Here’s a detailed explanation: 1. Gross Salary Formula for Gross Salary:Gross Salary=Basic Salary+Allowances+Bonuses+Other Earnings\text{Gross Salary} = \text{Basic Salary} + \text{Allowances} + \text{Bonuses} + \text{Other Earnings}Gross Salary=Basic Salary+Allowances+Bonuses+Other Earnings Difference between Gross and net Salary 2. Net Salary Formula for Net Salary:Net Salary=Gross Salary−Deductions\text{Net Salary} = \text{Gross … Read more