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What is a salary calculator and why is it important?

Accurate calculation of salary is an important issue for every employee. Because the monthly salary is not only “amount of course”, but also formed by social insurance, income tax and other deductions. Yelo Bank's salary calculator simplifies this process and immediately calculates the net amount that will remain after salary for you.
Whether you work in the public or private sector, errors or confusion can occur during salary calculation. It is possible to avoid these problems with the help of an online salary calculator. Simply enter your salary and the system will automatically calculate tax and social payments for you.
How does a salary calculator work?

Yelo Bank's salary calculation calculator has a very simple working principle. The steps are as follows:

Enter your gross salary.
For example, 1000, 1500 or 2500 AZN.
The calculator automatically calculates:
- Income tax,
- Social insurance deductions,
- Unemployment and health insurance premiums.
As a result, you will be shown:
- Net salary that will be transferred to you,
- Total expenses paid by the employer,
- Amount of taxes withheld.

You do not need any additional knowledge or time to carry out this process - Yelo Bank's salary calculator gives results in seconds
How is salary calculated?

Two concepts are mainly used when calculating salary:

Gross salary - the total amount intended for the employee by the employer.
Net salary - the real amount that goes to the employee after all deductions.

The following deductions are taken into account when calculating salary:

Income tax - the main deduction paid to the state budget.
Social insurance premium - the amount paid for the employee's future pension provision.
Unemployment insurance - a guarantee of state support for people who have lost their jobs.
Compulsory health insurance - a fee paid for access to health services.
Yelo Bank's salary calculator automatically applies all these components and provides you with an accurate, transparent result.

What is the difference between gross and net salary?

One of the most confusing concepts regarding salary is the difference between gross and net.
Gross salary is the total amount specified in the contract, without any deductions.
Net salary is the real amount that goes to the employee after all deductions (tax, social insurance, medical insurance, etc.).
Yelo Bank's salary calculator automatically shows the difference between gross and net so that you know your income with complete accuracy.
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Deduction type Interest Short explanation
DSMF (social insurance) 3% or 10% is allocated for the employee's social security
Medical insurance 2% is deducted for the State Medical Insurance Fund
Income tax 0–14% Calculated depending on the salary amount
Employer's payments 22% are paid by the company to the SSIF

Note: These percentages may vary depending on the business sector and the amount of the salary.

Advantages of the salary calculator:

Yelo Bank presents the salary calculation process to users in the easiest and most accurate way possible. The advantages of this tool are as follows:

Ease of use: You get the result in just a few clicks - no complicated forms.
Transparent result; Each deduction is shown separately: social insurance, tax, health insurance, etc.
Completely free: Yelo Bank provides this service to its customers completely free of charge.
Mobile-friendly interface: The calculator works smoothly on both computers and mobile devices.