Salary Calculator
Our tool helps convert Gross salary into Net salary, and vice versa. Tax rates and deductibles subjected to the aforesaid salary are calculated in compliance with the applicable laws on labour.
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Salary for Insurance (VND)
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(Explain)No. of dependants
Other Fee
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EMPLOYEE SALARY DETAILS
| GROSS Salary | 0 |
| Social Insurance (8%) | 0 |
| Health Insurance (1.5%) | 0 |
| Unemployment Insurance (1%) | 0 |
| Salary Before Tax | 0 |
| Personal Deduction | - 11.000.000 |
| Dependant Deduction | 0 |
| Taxable Salary | 0 |
| Personal Income Tax | 0 |
| NET Salary | 0 |
Employer cost
| GROSS Salary | 0 |
| Social Insurance (17.5%) | 0 |
| Health Insurance (3%) | 0 |
| Unemployment Insurance (1%) | 0 |
| Total | 0 |
Personal Income Tax
| 5% - Upto 5 Mil. VND | 0 |
| 10% - From 5 Mil. to 10 Mil. VND | 0 |
| 15% - From 10 Mil. to 18 Mil. VND | 0 |
| 20% - From 18 Mil. to 32 Mil. VND | 0 |
| 25% - From 32 Mil. to 52 Mil. VND | 0 |
| 30% - From 52 Mil. to 80 Mil. VND | 0 |
| 35% - Above 80 Mil. VND | 0 |
| Total | 0 |
FAQs
What is Gross Salary?
Gross Salary is the total amount an employee receives before deducting taxes, insurance, allowances, and other expenses. This is the amount negotiated and stated in the employment contract.
What is Net Salary?
Net Salary is the actual amount an employee takes home after deducting insurance, income tax, and other deductions. Net Salary is lower than Gross Salary due to these deductions.
What is the formula to calculate Gross Salary?
GROSS SALARY = BASE SALARY + BONUSES + OTHER ALLOWANCES
What is the formula to calculate Net Salary?
NET SALARY = TOTAL EARNINGS - (INCOME TAX + INSURANCE CONTRIBUTIONS + OTHER DEDUCTIONS)
How do you calculate Gross to Net Salary?
Subtract taxes and deductions from Gross Salary to get Net Salary. The formula is:
NET SALARY = GROSS SALARY - (INSURANCE CONTRIBUTIONS + TAXES + OTHER DEDUCTIONS)
How do you convert Net to Gross Salary?
To convert Net to Gross Salary, you need to calculate the deductions and taxes that were subtracted from Gross Salary. The formula is:
GROSS SALARY = NET SALARY + INSURANCE CONTRIBUTIONS + TAXES + OTHER DEDUCTIONS
Does Net Salary include income tax?
No, Net Salary doesn't include income tax. Income tax is deducted directly from the Gross Salary, not included in Net Salary.
Is it better to negotiate Gross or Net Salary?
It's advisable to negotiate Gross Salary to understand the costs like social insurance, health insurance, taxes, and other deductions. However, regardless of the negotiation approach, employers usually calculate the total payout within a certain range.
Understanding Gross Salary vs. Net Salary: How to Calculate
When it comes to your salary, there are two important terms you need to be familiar with Gross salary and Net salary. While both are mutually agreed upon figures between employees and employers, they differ significantly in their composition and implications. In this article, we'll delve into what Gross and Net salaries are, their relationship, and how to calculate them.
Gross Salary: The Total Earnings
Gross salary, often referred to as the pre-tax or total salary, encompasses the entire income earned by an employee. This includes taxes, various insurance contributions (health insurance, social insurance, unemployment insurance), and other allowances. The amount you actually receive as take-home pay will be less than your Gross salary, as deductions are made for insurance and income tax.
The formula to calculate Gross salary is as follows:
GROSS SALARY = BASE SALARY + BONUSES + OTHER ALLOWANCES
For example, if an employee's base salary is $1,000, and they receive an additional $200 for a meal allowance and $300 as a bonus, their Gross salary would be:
Gross Salary = $1,000 + $200 + $300 = $1,500
Net Salary: The Take-Home Pay
Net salary, also known as post-tax or take-home pay, represents the amount an employee receives after deducting taxes, insurance, family allowances, and other applicable deductions. When negotiating your salary, if you want to know the exact amount you'll take home, you may prefer to deal with Net salary instead of Gross. Does Net salary include income tax? In reality, Net salary does not include income tax.
The formula to calculate Net salary is as follows:
NET SALARY = TOTAL EARNINGS - (INCOME TAX + INSURANCE CONTRIBUTIONS + OTHER DEDUCTIONS)
To convert Gross to Net or vice versa, you can use an online salary calculator tool. Input your Gross or Net salary into the VTJ Gross and Net Salary Calculator above to receive detailed calculations. The tool automatically converts Gross to Net or Net to Gross, providing you with a clear understanding of your expected earnings.
Understanding the Relationship:
GROSS SALARY = NET SALARY + INSURANCE CONTRIBUTIONS + TAXES + OTHER DEDUCTIONS
Which is Better for Employees: Gross or Net?
At first glance, you might think that Net salary is more advantageous since it represents your take-home pay, while Gross salary may feel like a larger amount being reduced.
However, in practice, regardless of whether you negotiate using Gross or Net, the amount you ultimately receive remains the same. Employers typically calculate the costs within a certain range, irrespective of your negotiation approach.
For instance, a Gross salary of $2,000 may equate to a Net salary of $1,800 when considering insurance on the official salary. Conversely, a Gross salary of $2,000 could correspond to a Net salary of $1,900 with a $5,000 insurance contribution. In essence, your received pay remains unchanged, whether you negotiate using Net or Gross.
Conclusion
Understanding the distinction between Gross and Net salaries empowers employees to make informed decisions during salary negotiations. While Net salary may seem preferable due to its transparency, both Gross and Net amounts are intricately connected within an established framework. Leveraging tools like the VTJ Gross and Net Salary Calculator aids in easy conversions and allows individuals to confidently navigate the negotiation process, ensuring they have a clear understanding of their earnings.
What is Gross Salary?
Gross Salary is the total amount an employee receives before deducting taxes, insurance, allowances, and other expenses. This is the amount negotiated and stated in the employment contract.
What is Net Salary?
Net Salary is the actual amount an employee takes home after deducting insurance, income tax, and other deductions. Net Salary is lower than Gross Salary due to these deductions.
What is the formula to calculate Gross Salary?
GROSS SALARY = BASE SALARY + BONUSES + OTHER ALLOWANCES
What is the formula to calculate Net Salary?
NET SALARY = TOTAL EARNINGS - (INCOME TAX + INSURANCE CONTRIBUTIONS + OTHER DEDUCTIONS)
How do you calculate Gross to Net Salary?
Subtract taxes and deductions from Gross Salary to get Net Salary. The formula is:
NET SALARY = GROSS SALARY - (INSURANCE CONTRIBUTIONS + TAXES + OTHER DEDUCTIONS)
How do you convert Net to Gross Salary?
To convert Net to Gross Salary, you need to calculate the deductions and taxes that were subtracted from Gross Salary. The formula is:
GROSS SALARY = NET SALARY + INSURANCE CONTRIBUTIONS + TAXES + OTHER DEDUCTIONS
Does Net Salary include income tax?
No, Net Salary doesn't include income tax. Income tax is deducted directly from the Gross Salary, not included in Net Salary.
Is it better to negotiate Gross or Net Salary?
It's advisable to negotiate Gross Salary to understand the costs like social insurance, health insurance, taxes, and other deductions. However, regardless of the negotiation approach, employers usually calculate the total payout within a certain range.
Understanding Gross Salary vs. Net Salary: How to Calculate
When it comes to your salary, there are two important terms you need to be familiar with Gross salary and Net salary. While both are mutually agreed upon figures between employees and employers, they differ significantly in their composition and implications. In this article, we'll delve into what Gross and Net salaries are, their relationship, and how to calculate them.
Gross Salary: The Total Earnings
Gross salary, often referred to as the pre-tax or total salary, encompasses the entire income earned by an employee. This includes taxes, various insurance contributions (health insurance, social insurance, unemployment insurance), and other allowances. The amount you actually receive as take-home pay will be less than your Gross salary, as deductions are made for insurance and income tax.
The formula to calculate Gross salary is as follows:
GROSS SALARY = BASE SALARY + BONUSES + OTHER ALLOWANCES
For example, if an employee's base salary is $1,000, and they receive an additional $200 for a meal allowance and $300 as a bonus, their Gross salary would be:
Gross Salary = $1,000 + $200 + $300 = $1,500
Net Salary: The Take-Home Pay
Net salary, also known as post-tax or take-home pay, represents the amount an employee receives after deducting taxes, insurance, family allowances, and other applicable deductions. When negotiating your salary, if you want to know the exact amount you'll take home, you may prefer to deal with Net salary instead of Gross. Does Net salary include income tax? In reality, Net salary does not include income tax.
The formula to calculate Net salary is as follows:
NET SALARY = TOTAL EARNINGS - (INCOME TAX + INSURANCE CONTRIBUTIONS + OTHER DEDUCTIONS)
To convert Gross to Net or vice versa, you can use an online salary calculator tool. Input your Gross or Net salary into the VTJ Gross and Net Salary Calculator above to receive detailed calculations. The tool automatically converts Gross to Net or Net to Gross, providing you with a clear understanding of your expected earnings.
Understanding the Relationship:
GROSS SALARY = NET SALARY + INSURANCE CONTRIBUTIONS + TAXES + OTHER DEDUCTIONS
Which is Better for Employees: Gross or Net?
At first glance, you might think that Net salary is more advantageous since it represents your take-home pay, while Gross salary may feel like a larger amount being reduced.
However, in practice, regardless of whether you negotiate using Gross or Net, the amount you ultimately receive remains the same. Employers typically calculate the costs within a certain range, irrespective of your negotiation approach.
For instance, a Gross salary of $2,000 may equate to a Net salary of $1,800 when considering insurance on the official salary. Conversely, a Gross salary of $2,000 could correspond to a Net salary of $1,900 with a $5,000 insurance contribution. In essence, your received pay remains unchanged, whether you negotiate using Net or Gross.
Conclusion
Understanding the distinction between Gross and Net salaries empowers employees to make informed decisions during salary negotiations. While Net salary may seem preferable due to its transparency, both Gross and Net amounts are intricately connected within an established framework. Leveraging tools like the VTJ Gross and Net Salary Calculator aids in easy conversions and allows individuals to confidently navigate the negotiation process, ensuring they have a clear understanding of their earnings.