However, the importance of a salary slip is often overlooked, and the need to understand how to read and create a salary slip is ignored.This document can either be printed out and given to the employees or mailed to them.As an employer, you are legally bound to issue salary slip to your employees as proof of salaries paid and necessary deductions made.
Format For Salary Slip Format How To Read AndAnd, it is your responsibility to ensure salary slips are generated and sent to employees every month. The salary slips help banks and financial institutions to asses your employees creditworthiness and repayment capability. Providing your employees with a salary slip can help them better negotiate salary with prospective employers. ![]() And, it is the basic salary that is used to calculate DA, PF ESI contributions. The percentage of HRA is dependent on the city of an employee. For an employee in a metro city, HRA is 50 of the basic salary and 40 in case, the employee is in a non-metro city. However, it only covers the travel expenses within the country. PF is applicable to all organizations with 20 employees and is a mandatory deduction for employees whose basic DA bonus or special allowances are less than INR 15,000. In the template just add your organizations details, employee details, and a few other details, and all other calculations will be taken care of. Format For Salary Slip Format Software Can BePayroll software can be of tremendous value to your organization by reducing the time required to process monthly payroll and automatically generates employee payslip. Format For Salary Slip Format Free Of CostMoreover, payroll software such as Kredily itself is absolutely free of cost for organizations of all sizes across sectors and can drastically reduce the burden on your payroll team.
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