1.16 crores means about $200k dollars . Federal taxes will be about 37%, State tax in California is about 9 %, living expenses is the highest will easilt take anther 10% atleast, then add food and tarnsportation another 12%. He will be left with about 25% of his salary at best which is 25k ie about 10 lakhs a year.
Re: Re: Not that much
by kiran kumar on Jan 29, 2013 12:18 PM
That calculation by Sameer may be exaggerated. But the fact remains that the monthly gross salary is 11600000/(12*53)~=18K I dont know what will be that post taxes. It is definitely a great package for a fresher but does not deserve a front page article on national new portal.
Re: Not that much
by Mitr Renga on Jan 29, 2013 09:31 AM
10L a year - 33% tax - 12.5% svc tax - 14% VAT and other living expenses gives you 2L or less. Ars! get a life you miserable pie
Re: Not that much
by Sonu A on Jan 29, 2013 09:33 AM
While the best employers of India (Read Infy and TCS) tend to pay 55-60K to a freshers, where in they are made to work even on saturdays' (most of the times).
Re: Not that much
by S Suresh on Jan 29, 2013 09:38 AM
33% Income Tax 12.5% service Tax 14% VAT Road Tax Water Tax Corporation Tax Property Tax Cess Edcuational cess Petrol, diesel and other taxes incl. already done while import... and food expenses.. WHICH ONE IS GOOD BOSS.
Re: Not that much
by ss ss on Jan 29, 2013 12:24 PM
the PPP ratio ( Purchasing Power Parity) between US and India is 0.41:1. Hence the actual Indian equivalent of the salary is 1.16 cr* 0.41 which is 40 Lakhs, Which is still a lot of money for a fresher!
