A salary slip template is a business document which is issued by the employer to employee at the payment of each salary, usually after one month. This slip contains detailed information about the salary earned, and paid; for instance, total worked hours, total absentees, total paid leaves, unpaid leaves, additional benefits if any; bonus if any, advances if any, deductions if any, and finally the net total. Pensions or national insurance contributions will also be mentioned in salary presentation on this sheet. This sheet will be signed by both employer and employee to make sure that there are no discrepancies in the salary for that month. It serves as proof that the employee has been paid his salary for that month, and also a proof of net calculations till that month. Due calculations are then made in the next salary slip.
Importance of Salary Slip
A salary slip template is a document that shows a monthly payment of an employee given by an employer. It also includes the breakup of deductions, allowances, leaves taken, and the tax computations concerning employee remuneration. A salary slip serves as evidence of the benefits taken by an employee in an organization. It not only helps in understanding the tax computation while applying for refund, but also is a needed document when applying for various bank loans. Keeping in view the significance of a salary slip, we have given here a salary slip example, which contains all the important sections and details that you need to create a professional salary slip form.
Details of Salary Slip
Salary slip template is used by organizations when salaries and payments are prepared on a monthly basis. Salary slips can be created individually for each employee or there may be a combined pay sheet containing important information about the payments and salaries of employees. Human resources department is responsible for creating pay slip templates and it must look well drafted and professional.
