Salary Calculator is good and simple way to find monthly income. This tool provides clarity by offering a platform to input basic salary and instantly calculate essential deductions such as EPF and tax.
EPF is an aspect of every Sri Lankan employee’s financial planning. With the Salary Calculator, determining your EPF deduction is a breeze. Simply enter your basic salary and click / On “EPF”, and the tool automatically computes your EPF deduction based on the standard employee contribution rate of 8%. It does not include employer’s contribution If you want to know more about EPF & EPF, check our EPF & EPF calculator.
Taxation can be a daunting subject, especially when it comes to deciphering how much of your hard-earned income will be deducted. The Salary Calculator simplifies this process for you. If your monthly salary exceeds Rs. 100,000, the calculator will factor in the applicable tax deduction. Do not forget to ON the Tax if you montlhy basic salary exceeds Rs. 100,000. However, it will calculate as per your tax eligibility.
After accounting for EPF and tax deductions, the calculator presents you with your net salary. This the formulla of net salary: Basic salary-tax-EPF = net salary.
