A salary slip is an employment document. It is sort of a proof for both the employer and employee that the employer has paid full payment to the employee. It’s made on monthly basis. It provides all the information about the employee’s name, his designation, his net salary amount, leaves he took and the deductions. It’s also very important to have a solid proof of what the employer has given and what the employee has got. This little effort can eliminate a whole lot of trouble regarding any tax payment or dispute between owner and workers.
A salary slip template varies in different countries even in various organizations in the same country. The most important part of a salary slip is the payment an employee is getting. The salary of an employee generally consist of two parts
- Fixed salary
- Variable component
Typically the variable part of the salary includes a variety of allowances, bonuses, trip benefits and other compensations. The variable amount also depends upon the performance of employee, his attendance and the amount of decisions he makes for the benefit of the organization.
Here is a preview of this Salary Slip Template created using MS Word,
Usually a salary slip contains:
- Organization’s name and logo
- Employer’s name and designation along with his address
- Employee’s name and his designation
- Form of payment (I.e. cash, check)
- Basic salary
- Stock purchased
- Medical and other allowances
- Tax calculation
- Deductions details
With a difference of few details, almost every organization uses the pay slip. For example some companies don’t give medical allowance to its employees or some firms only pay in form of check so there is no need to mention form of payment on salary slip.
WHAT IS THE BIG DEAL WITH A SALARY SLIP:
In order to keep a track of your employee’s performance in an easy way, you can just see his monthly bonuses. There are many other factors that force you to prepare a salary slip like:
- A salary slip is like an evidence of income and incentives paid to staff
- It makes it possible for the individual to know his payable taxes while filing.
- It is essential if you are going to apply for a loan for your new house or car.
- The salary slip is also very important when you are applying for a new job. It sort of gives a record of your previous job performance by seeing your performance bonuses.
These days, even smaller organizations don’t think twice giving a salary slip. You can’t imagine any payment is made in a company without an authenticated documentation. Because of law, a labor inspector can certainly request to show the pay slips along with other documents while checking.
It’s very important for you to ask for salary slip if your employer is not providing any. There is no need to hesitate or feel shy because a little effort of getting a solid documented proof will save you from a lot of problems in the future.
Here is download link for this Salary Slip Template,