Salary is defined as the payment received by an employee for his services rendered during his/her course of employment. Salaries are given by an employer in the name of the organization the employee works for.A salary slip is a document showing all respective details and information regarding an employee’s salary.Apart from mentioning the company name at the topmost, salary slips enlist the following details respective of an employees working period:
- Employee name
- Employee ID
- Bank account number
- Email address
- Name of the bank where salary will be transferred
- Date of joining
- Designation of the employee.
- Team(If any)
Furthermore, it contains information of employee’s basic salary, bonus and allowances received. These are considered as payments made to the employee. Next to them are deductions which are applicable to an employee’s salary. Deductions include provident fund, income tax and pick and drop if the employee receives so. After calculating the payments received by an employee the deductions are subtracted from them thus calculating the net payment duly received by an employee.
The salary slip need not ant signatures as it is a computerized document needing no signature. They are proof of an employee’s income and his current working status. Any individual having a salary slip will know of his taxes payable and the incentives received as well. It is of great importance when it comes to applying for either a loan or a new job. For individuals seeking for a new job, it is helpful as it provides a record of your performance by viewing the number of bonuses received by you in your previous job.
It also serves as a proof for the accounting department ensuring that the employee has been duly paid for his services rendered. If by any chance you do not receive your salary slip you can certainly ask for it in order to avoid any expected future problems.
A salary slip template contains built-in fields which any organization can alter according to its specifications. Fields which do not relate to the work specifications can be removed easily and vice versa.
It just requires entering the details of an employee’s payments received and then duly entering the deductions done. Net salary will be automatically calculated.
Salary Slip Template