Huge Salaries - Less take home

[Sai Surya]

Hi Guys,

I heard since long people earning lacs of rupees (I am in India) yearly and just curiostic know about their take homes. As in my case, I have a good pay package as per offer letter, however, when I saw my first pay slip I got depression as most of the money went to our great government.
Whats the point in having great packages, when take home really matters?
I don't know about other countries.

I would like to know ideas of you people on this.

[Mohan Karthick]

I am agree, some time I feel that this huge package is burden for company as well as us. We are paying tax and company feels that resource is costly.

In general from Take Home 30% is dedcuted in terms Income tax and pf.

rgds
Sandeep

[Sandeep Mohanty]

I am agree, some time I feel that this huge package is burden for company as well as us. We are paying tax and company feels that resource is costly.

In general from Take Home 30% is dedcuted in terms Income tax and pf.

rgds
Sandeep

[Jeroen T Wenting]

You complain about a total tax of 30% max of your gross salary?

I'm in the intermediate group for my country and I pay 42% just in income tax, more is deducted for social security, health insurance (government controlled and in part paid as tax), etc. etc.
In total I end up giving over half my income to the taxman.

[Rajasekar Elango]

Completely Agree..once your gross exceeds 5 lakh p.a, take home gets reduced a lot... recently I got some 10% hike in sal, but got only 5% increase in take home, rest went to PF and tax

Thanks,
Raja

[Karthik Guru]

Originally posted by Sai Surya:
Hi Guys,
I don't know about other countries.

In other countries it comes back to them in some form. Its not like ours.
I have been waiting for the fly over that is being built over airport road (bangalore) for 5 years now :roll:

[ankur rathi]

Originally posted by Jeroen T Wenting:
You complain about a total tax of 30% max of your gross salary?

I'm in the intermediate group for my country and I pay 42% just in income tax, more is deducted for social security, health insurance (government controlled and in part paid as tax), etc. etc.
In total I end up giving over half my income to the taxman.

But in your country, paying tax is worth as you get good facilities, roads and everything good...

Here, it's useless...

[Sandeep Ghosh]

I don�t know about your country but we have to pay 12%-20% VAT on everything we buy.

[Sameer Jamal]

Originally posted by Sandeep Mohanty:

I am agree, some time I feel that this huge package is burden for company as well as us. We are paying tax and company feels that resource is costly.

In general from Take Home 30% is dedcuted in terms Income tax and pf.

rgds
Sandeep

Originally posted by Mohan Karthick:

I am agree, some time I feel that this huge package is burden for company as well as us. We are paying tax and company feels that resource is costly.

In general from Take Home 30% is dedcuted in terms Income tax and pf.

rgds
Sandeep

Seems to be that you have two accounts at JR hope you dont have two salary account in your organisation.
[ June 16, 2006: Message edited by: Sameer Jamal ]

[Sri Jad]

In US (for people on H1 wking for Desi COmpanies) , employee takes home around 40% of what the client spends.remaining money is taken by Middle Men , Taxes etc..I some cases it may be even less.

[Tim Holloway]

I used to estimate my (US) Federal tax hit at 30% for planning purposes. Since then, the Federal take has gone down, but the state and local take has gone up to cover it. I don't have an exact figure, but the local sales tax nearly doubled over that period.

There ain't no such thing as a free lunch. It's still cheaper than if you had to build and maintain your own roads and bridges, stay away all night next to your weapons (instead of having police), own your own parklands with private maintenance staff, etc. At least unless you have government-sized buying power or the government is especially inefficient.

Politicians notwithstanding, governments aren't supposed to be run at a profit, so for services that need to be available and affordable to all, should be generally cheaper than attempting a private alternative.

Sometimes they even are.

[Jeroen T Wenting]

Originally posted by rathi ji:


But in your country, paying tax is worth as you get good facilities, roads and everything good...

hadn't noticed that lately... They're about 25-30 years behind in road maintenance for the highways for example, just started catching up with the backlog last year.
Facilities are being rapidly dismantled, while taxes remain the same or go up.

[Jay Ashar]

Originally posted by Jeroen T Wenting:


hadn't noticed that lately... They're about 25-30 years behind in road maintenance for the highways for example, just started catching up with the backlog last year.
Facilities are being rapidly dismantled, while taxes remain the same or go up.

That is the case almost everywhere.