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Net salary
The wage that the employee actually receives after income tax is deducted.
The net salary (i.e. free of social security contributions) is the wage that the employee actually receives after income tax is deducted. Think of it as ‘cash in hand’; what you end up with on your paycheck after everything is deducted.
Related Glossaries
Deductions
Payroll deductions are both required and optional deductions from an employee’s pay cheque.
ACH
(Automated Clearing House) or ACH transaction, is an electronic bank to bank money transfer.
SWIFT
SWIFT is an acronym for Society for Worldwide Interbank Financial Telecommunication.
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Streamline your hiring process in India with our simple guide to Employer of Record (EOR) services. Discover expert tips, compliance insights, and practical strategies to optimize your business operations. Unlock success with RemotePass, your trusted partner in simplifying international expansion.
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