Understanding salary terms can feel confusing, especially for freshers and first-time job seekers. When someone gets a package of 2.4 LPA, the biggest question is always the same.
What is in hand salary for 2.4 LPA
The goal here is to explain everything in the easiest way possible. You will understand what 2.4 LPA actually means, how PF and ESI affect your take home salary, how deductions work, and how much money you actually receive every month.
To make things even clearer, there are simple examples, real salary breakdowns, and tables inside the content.
Meaning of LPA, CTC and In Hand Salary
Before calculating the 2.4 LPA in hand salary, it helps to understand three important terms.
1. What is LPA
LPA means Lakh Per Annum.
It shows your yearly salary package.
For example
2.4 LPA means
₹240000 per year
2. What is CTC
CTC means Cost to Company.
It includes everything the company spends on you.
CTC includes
• Fixed salary
• Allowances
• PF employer share
• Bonus
• Insurance
• Gratuity
CTC looks big, but it is not the money you take home.
3. What is In Hand Salary
In hand salary is the amount credited to your bank every month.
It comes after deducting PF, ESI, professional tax and other deductions.
Difference Between LPA, CTC and In Hand Salary
| Term | Meaning | Example for 2.4 LPA |
|---|---|---|
| LPA | Annual package offered | ₹240000 yearly |
| CTC | Total company spend | ₹20000 monthly CTC |
| In hand salary | Final money you receive | ₹18500 to ₹19000 monthly |
This table clearly shows that CTC is always higher than your actual take home salary.
2.4 LPA Monthly CTC Calculation
Let’s break 2.4 LPA into monthly salary.
Yearly package
₹240000
Monthly CTC
240000 divided by 12
₹20000
Remember, this 20000 is not your in hand salary.
Common Deductions From 2.4 LPA Salary
Your salary reduces due to certain mandatory deductions.
1. PF Deduction
Basic salary is usually 40 percent of CTC.
Basic salary for 2.4 LPA
40 percent of 20000
₹8000
Employee PF deduction
12 percent of 8000
₹960
2. ESI Deduction
ESI applies only if your gross salary is below 21000.
ESI employee share is 0.75 percent of salary.
0.75 percent of 20000
₹150
Some companies do not deduct ESI, especially in corporate roles.
3. Professional Tax
Professional tax depends on the state.
Usually around
₹200 per month
4. Income Tax
At 2.4 LPA, there is no income tax because income is below the tax limit.
Deductions From 2.4 LPA Salary
| Deduction Type | Amount Per Month | Required |
|---|---|---|
| PF employee contribution | ₹960 | Yes |
| ESI employee contribution | ₹150 | Only if applicable |
| Professional tax | ₹200 | Depends on state |
| TDS | ₹0 | No tax at 2.4 LPA |
Final 2.4 LPA In Hand Salary Calculation
Let’s calculate the take home salary.
Monthly CTC: ₹20000
PF: ₹960
ESI: ₹150
Professional tax: ₹200
In hand salary with ESI:
20000 minus 960 minus 150 minus 200
₹18700 approx
In hand salary without ESI:
20000 minus 960 minus 200
₹18840 approx
So the simple answer to
what is in hand salary for 2.4 LPA
is
Around ₹18500 to ₹19000 per month
Yearly In Hand Salary For 2.4 LPA
Let us also check annual take home salary.
If monthly in hand is ₹18800
Yearly in hand becomes
18800 multiplied by 12
₹225600
So even though your CTC is 240000, your actual yearly earnings are around 225000.
1.8 to 2.4 LPA Salary Comparison
Many freshers get packages between 1.8 LPA to 2.4 LPA.
Here is an easy comparison.
1.8 to 2.4 LPA In Hand Salary Comparison
| Package | Monthly CTC | Approx Monthly In Hand |
|---|---|---|
| 1.8 LPA | ₹15000 | ₹13500 to ₹14000 |
| 2.0 LPA | ₹16600 | ₹15000 to ₹15500 |
| 2.2 LPA | ₹18300 | ₹16800 to ₹17200 |
| 2.4 LPA | ₹20000 | ₹18500 to ₹19000 |
This table helps freshers compare their salary with similar packages.
How PF, ESI and Tax Affect Your Take Home Salary
Understanding deductions helps you avoid confusion when you receive your first salary slip.
1. PF Impact
PF reduces your in hand salary but builds long term savings.
When you switch jobs or leave a company, PF can be withdrawn.
2. ESI Impact
ESI provides medical benefits.
It is useful but reduces your monthly take home slightly.
3. Professional Tax
This is a small deduction charged by some state governments.
4. Income Tax
At 2.4 LPA there is no tax.
But as your package increases above 3 LPA, tax calculations begin.
Salary Breakups of Higher Packages for Better Understanding
To help you understand salary structure more clearly, here are some popular salary slabs and their in hand salary.
Popular Salary Slabs and In Hand Salary
| Package | Monthly CTC | Approx Monthly In Hand |
|---|---|---|
| 5 LPA | ₹41600 | ₹34000 to ₹36000 |
| 10 LPA | ₹83300 | ₹65000 to ₹70000 |
| 15 LPA | ₹125000 | ₹90000 to ₹98000 |
| 20 LPA | ₹166000 | ₹120000 to ₹130000 |
Values vary based on PF, tax regime and deductions.
How Bonuses and Incentives Affect Salary
Bonuses can increase your total yearly earning.
Common types are
• Joining bonus
• Performance bonus
• Annual bonus
• Festival bonus
Most bonuses are taxed based on your final annual income.
They are not added to your monthly salary.
Tips To Increase In Hand Salary
Here are some simple and practical ways to increase your monthly take home salary.
1. Ask for higher basic salary
A small increase in basic salary can improve allowances and reduce unnecessary deductions.
2. Choose right tax regime
The new tax regime is better for most employees because it gives lower tax.
3. Use tax saving options
If your salary crosses tax limits in future, you can save tax through
• 80C investments
• NPS
• Health insurance
• ELSS funds
• Home loan interest
4. Avoid unnecessary deductions
Sometimes companies add optional deductions like meal cards or insurance.
You can ask HR to remove the deductions you do not need.
5. Improve your skills
Higher skills mean better job roles and better salary packages.
Even a small increase from 2.4 LPA to 3.5 or 4 LPA can boost your take home salary a lot.
Why Understanding Salary Structure Is Important
Knowing your salary details helps you
• Plan your expenses confidently
• Understand tax benefits
• Track PF savings
• Avoid confusion during salary credit
• Negotiate better salary in future
• Make better financial decisions
A clear understanding of salary makes you financially confident.
Conclusion
Understanding your 2.4 LPA in hand salary becomes very simple when you know the meaning of LPA, CTC, PF, ESI and deductions. The in hand salary for 2.4 LPA usually comes to around ₹18500 to ₹19000 per month.
Once you understand how salary gets divided into basic pay, allowances and deductions, you can easily calculate your take home salary for any package. It also helps you negotiate better and plan your career more confidently. Salary knowledge gives you financial clarity and helps you grow faster.
FAQ
1. What is the in hand salary for 2.4 LPA
The in hand salary for 2.4 LPA is usually ₹18500 to ₹19000 every month depending on PF, ESI and professional tax.
2. Is PF deducted in 2.4 LPA
Yes. Around ₹960 is deducted every month as PF.
3. Does 2.4 LPA have income tax
No. 2.4 LPA is below the taxable limit so no TDS applies.
4. Is ESI applicable in 2.4 LPA
ESI applies only if the gross salary is under 21000 per month. Most 2.4 LPA jobs fall in this category.
5. Can I increase my in hand salary
Yes. Choose the right tax regime, negotiate salary wisely and use tax saving options when income increases.
Read more
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