A salary slip is a document that the company gives to its employees every month, in which the logo of the company, signature of the employer, stamp, and identification of the employee are printed in the slip. This shows that the employer has given a salary to his employee.
Salary is the sensitivity data of any company, that is why background verification is done by the company to check the behavior of that employee. In this article, you will find many types of templates, so that you can easily make Salary Slip in a few minutes.
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Salary Slips In India
Salary slip is very different, it differs from company to company and industry, but if we follow the general format, then the salary slip consists of basically two components, in which you have to earn your income in one component and deductions in the other component.
Income (Total value you have created)
According to the value you have created in the company, you call them income. If you live in the metro cities, then you will also get rent bill from the company. It depends on company to company, how much will that amount be. 50% of the minimum wage for those working in metro cities (40 percent of basic salary for non-metros).
Apart from this, you get many types of allowances which include Traveling, Medical and Children’s Education, this whole depends on company to company fix amount which is given to you.
Deductions
Many types of Deductions included inside the company. Some of these are Professional tax, Income tax. In addition, if you have taken advance salary, then your interest is calculated in the company after that, the Contribution Fund. If you have taken any loans, then their deduction is in it.
In the salary slip, you get all the information, So that you can easily calculate how much your income is and how much your deduction is and in what things your deduction has been done and in which things your income is increased. You can calculate this with your salary slip.
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Download Free Salary/Pay Slip Formats
Importance of a Salary Slip
Employee’s salary is one of the most sensitive data for any company, that is why you can not tell the salary of any company to others. The biggest benefit to employees from salary slips is that they can calculate their salary. You can see in which they have increased their income and deductions have been done.
Apart from this, you have worked in a particular company and have taken salary from there, so that you can give proof to other company. Apart from this, the salary slip contains the logo, stamp of that company and the signature of the employer. Makes salary slip a proof document.
FAQs Related Employee Salary Slip
Can I make fake salary slip?
No, you can not make salary slip fake. This is also the biggest reason that the company does for background verification. If you have made a fake salary slip, then the company gets to know after background verification that the company knows about your behavior.
What is basic salary slip?
A salary slip is a document that is both in hard copy and soft copy that gives employer to an employee, which contains details such as HRA, LTA and bonus and other deductions that have taken place within the company.
What is DA in salary?
Dearness Allowance(DA) is a calculation that is done on a percentage basis, it is known about inflation rate which is allocated to Government Employees, Public Sector Employees and Pensioners in India, calculating the People’s Inflation to a basic salary.
