29 LPA means a cost to company of ₹29,00,000 a year, or ₹2,41,667 a month. After the employer's PF and gratuity share, your own PF and professional tax and income tax, the take-home settles at about ₹1,75,942 per month for FY 2026-27. This page shows exactly how that number is built and what can push it up or down.
I have assumed a typical post-Labour-Code salary structure: half the CTC as basic pay, PF of 12% on basic from both you and the employer, a 4.81% gratuity provision, ₹200 a month of professional tax, and the FY 2026-27 new tax regime (Budget 2026 did not change the slabs). If your offer letter is different, the calculator in the sidebar lets you change these.
29 LPA salary breakup (monthly and yearly)
Read this table from top to bottom. The first block is money your employer spends on you but keeps out of your salary; what remains is the gross pay printed on your payslip. The second block is what gets deducted from that gross before the ₹1,75,942 reaches your account.
| Component | Yearly | Monthly |
|---|---|---|
| CTC (29 LPA) | ₹29,00,000 | ₹2,41,667 |
| Employer PF (12% of basic) | ₹1,74,000 | ₹14,500 |
| Gratuity provision (4.81% of basic) | ₹69,745 | ₹5,812 |
| Gross salary | ₹26,56,255 | ₹2,21,355 |
| of which Basic (50% of CTC) | ₹14,50,000 | ₹1,20,833 |
| of which HRA (40% of basic) | ₹5,80,000 | ₹48,333 |
| of which Special allowance | ₹6,26,255 | ₹52,188 |
| Employee PF (12% of basic) | ₹1,74,000 | ₹14,500 |
| Professional tax | ₹2,400 | ₹200 |
| Income tax (new regime, incl. cess) | ₹3,68,552 | ₹30,713 |
| In-hand salary | ₹21,11,303 | ₹1,75,942 |
In plain terms, 72.8% of your CTC is spendable cash. Another 12.0% is saved for you in EPF (₹29,000 a month, earning 8.25%), and 2.4% is the gratuity provision you collect after five years with the employer. Only professional tax and income tax are true costs.
How much income tax is deducted on 29 LPA?
The tax calculation starts from your taxable income of ₹25,81,255, which is the gross salary of ₹26,56,255 less the ₹75,000 standard deduction. Your employer's PF and gratuity contributions are outside this figure, and in the new regime there is no deduction for professional tax or your own PF.
| Taxable income slab | Rate | Income in slab | Tax |
|---|---|---|---|
| ₹0 – ₹4,00,000 | 0% | ₹4,00,000 | ₹0 |
| ₹4,00,000 – ₹8,00,000 | 5% | ₹4,00,000 | ₹20,000 |
| ₹8,00,000 – ₹12,00,000 | 10% | ₹4,00,000 | ₹40,000 |
| ₹12,00,000 – ₹16,00,000 | 15% | ₹4,00,000 | ₹60,000 |
| ₹16,00,000 – ₹20,00,000 | 20% | ₹4,00,000 | ₹80,000 |
| ₹20,00,000 – ₹24,00,000 | 25% | ₹4,00,000 | ₹1,00,000 |
| Above ₹24,00,000 | 30% | ₹1,81,255 | ₹54,377 |
| Tax on slabs | ₹3,54,377 | ||
| Add: 4% health & education cess | ₹14,175 | ||
| Income tax payable | ₹3,68,552 |
That is an effective tax rate of 12.7% of your CTC, even though your top slab is 30%. Your employer deducts it as TDS spread evenly across the year, roughly ₹30,713 a month, and adjusts it in the last quarter once your investment proofs are in.
Old vs new tax regime at 29 LPA
You can still choose the old regime if it suits you, but it only makes sense if your deductions are large. Below, the new regime is set against two old-regime taxpayers: one who relies only on EPF for 80C, and one who invests the full ₹1.5 lakh and buys ₹25,000 of health cover. HRA is excluded since it depends entirely on your rent.
| New | Old (PF only) | Old (full 80C + 80D) | |
|---|---|---|---|
| Standard deduction | ₹75,000 | ₹50,000 | ₹50,000 |
| Other deductions | None | PT + PF ₹1,50,000 | PT + ₹1.5L 80C + ₹25k 80D |
| Taxable income | ₹25,81,255 | ₹24,53,855 | ₹24,28,855 |
| Income tax / year | ₹3,68,552 | ₹5,70,603 | ₹5,62,803 |
| In-hand / month | ₹1,75,942 | ₹1,59,104 | ₹1,59,754 |
The new regime wins here, and by a margin: even if you use the full ₹1.5 lakh of 80C and ₹25,000 of health insurance, the old regime still costs ₹1,94,251 more a year. To make the old regime cheaper you would need about ₹7,97,599 of total deductions (80C, 80D, HRA exemption, home-loan interest and so on, on top of the standard deduction and professional tax). That is realistic mainly if you pay high rent in a metro or are repaying a home loan.
Save tax with employer NPS (Section 80CCD(2))
The new regime removes almost every deduction, but one survives: your employer's contribution to NPS under Section 80CCD(2), up to 14% of basic pay. If your company offers it, you can ask HR to move part of your special allowance into NPS. At 14% of basic, that is ₹2,03,000 a year going into your retirement account instead of your salary.
| Current structure | With 14% employer NPS | |
|---|---|---|
| Income tax / year | ₹3,68,552 | ₹2,53,566 |
| In-hand / month | ₹1,75,942 | ₹1,68,607 |
| NPS contribution / year | ₹0 | ₹2,03,000 |
Your monthly cash goes down by ₹7,335, but you save ₹1,14,986 of tax a year and build ₹2,03,000 of retirement savings. The trade-off is liquidity: NPS money stays locked until 60, with only partial withdrawals before that. Note also that employer contributions to PF, NPS and superannuation together are tax-free only up to ₹7.5 lakh a year.
Is 29 LPA a good salary in India?
29 LPA is a senior-professional salary in India, typical of experienced engineers, managers and specialists. With a take-home of ₹1,75,942 a month, the real lever is no longer getting more salary but keeping more of it: tax planning, employer NPS and disciplined investing make a bigger difference at this level than small salary bumps.
What a raise from 29 LPA really adds
A percentage hike on CTC does not translate one-to-one into your take-home, because PF grows with basic pay and tax can start or step up. Here is what common hikes would do to your monthly in-hand:
| Hike | New CTC | New in-hand / month | Change / month |
|---|---|---|---|
| 10% hike | ₹31,90,000 | ₹1,89,721 | +₹13,779 |
| 20% hike | ₹34,80,000 | ₹2,03,500 | +₹27,558 |
| 30% hike | ₹37,70,000 | ₹2,17,280 | +₹41,338 |
When negotiating, compare offers on in-hand pay and on the fixed part of CTC. Variable pay, joining bonuses and ESOPs often sit inside the headline figure but are not guaranteed every month. You can try any number in the salary hike calculator.
Do you need to file an ITR on 29 LPA?
Yes. Your salary income after the standard deduction is about ₹25,81,255, which is above the ₹4 lakh basic exemption limit of the new regime. Filing is compulsory once income crosses that limit, even though the 87A rebate brings your actual tax to zero. The due date for salaried individuals is normally 31 July.
Filing also builds an income record that banks ask for when you apply for a home loan, a credit card or a visa.
29 LPA compared with nearby packages
Use this to see how your take-home moves as the CTC changes. Each row links to its own full breakdown.
| Package | CTC | In-hand / month | Tax / year |
|---|---|---|---|
| 25 LPA in-hand salary | ₹25,00,000 | ₹1,56,134 | ₹2,63,868 |
| 27 LPA in-hand salary | ₹27,00,000 | ₹1,66,431 | ₹3,11,497 |
| 28 LPA in-hand salary | ₹28,00,000 | ₹1,71,191 | ₹3,39,974 |
| 29 LPA (this page) | ₹29,00,000 | ₹1,75,942 | ₹3,68,552 |
| 32 LPA in-hand salary | ₹32,00,000 | ₹1,90,196 | ₹4,54,284 |
| 33 LPA in-hand salary | ₹33,00,000 | ₹1,94,948 | ₹4,82,862 |
| 34 LPA in-hand salary | ₹34,00,000 | ₹1,99,699 | ₹5,11,440 |
How this was calculated
Employer PF = 12% × basic = ₹1,74,000; Gratuity = 4.81% × basic = ₹69,745
Gross = CTC − employer PF − gratuity = ₹26,56,255
Taxable (new regime) = gross − ₹75,000 = ₹25,81,255 → tax ₹3,68,552
In-hand = gross − employee PF ₹1,74,000 − PT ₹2,400 − tax ₹3,68,552 = ₹21,11,303
What this calculation assumes:
- Basic pay at 50% of CTC, HRA at 40% of basic, the remainder as special allowance.
- Employer PF and gratuity are part of CTC; no insurance premium, meal card or variable pay is assumed.
- Professional tax is taken as ₹200 a month (₹2,400 a year). It varies by state: Delhi, Haryana and Uttar Pradesh do not levy it, and Karnataka exempts gross pay up to ₹25,000 a month.
- Tax uses FY 2026-27 new-regime slabs, the ₹75,000 standard deduction, the Section 87A rebate up to ₹12 lakh with marginal relief, surcharge where relevant and 4% cess.
If your company uses a different basic percentage or caps PF, put your own numbers into the CTC to in-hand calculator, or use the quick calculator on this page.
29 LPA in-hand salary: FAQs
What is the in-hand salary for 29 LPA per month?
On a standard structure, a 29 LPA CTC gives an in-hand salary of about ₹1,75,942 per month in FY 2026-27 under the new tax regime, or ₹21,11,303 a year.
How much PF is deducted on 29 LPA?
If PF is calculated at 12% of a basic pay of ₹1,20,833 a month, your own PF deduction is ₹14,500 a month and your employer adds the same amount. If your employer caps PF at the ₹15,000 wage ceiling, the deduction is ₹1,800 a month instead.
How much income tax is deducted on 29 LPA?
About ₹3,68,552 a year, or roughly ₹30,713 a month as TDS, under the new regime for FY 2026-27, including 4% cess.
29 LPA means how much salary per month?
29 LPA means ₹29,00,000 per year, which is ₹2,41,667 per month of CTC. After deductions, the monthly in-hand is about ₹1,75,942.
Which tax regime is better for 29 LPA?
For most people the new regime is better at 29 LPA: it costs ₹3,68,552 versus ₹5,62,803 in the old regime even with full 80C and ₹25,000 of 80D. The old regime only wins if your HRA exemption, home-loan interest and other deductions are unusually large.