Dear All,
I would appreciate it if anyone could help me out. Here, I am attaching a salary slip format. Please go through it and let me know whether the components are correct or not. Or suggest any modifications that may be needed.
Salary Slip
Pay Date
June 7, 2010
Employee ID
Employee Name
Employee Address
Pay Period
From
May 1, 2010
To
May 31, 2010
Deductions
Basic Salary
Rs. 10,000
Leave Deductions
Rs. 5,000
HRA
Rs. 5,000
Others (if any)
Allowances:
Conveyance
Rs. 800
TDS
Rs. 500
Medical
Rs. 1,200
Cess on TDS
Rs. 15
Bonus
Leave Encashment
Misc
Rs. 16,000
Adjustment (if any)
Total
Rs. 32,485
Leave Head
Leaves Accrued
Leaves Taken
Leaves Cashed
Leaves Balance
Casual Leave
LWP
Others
Authorized Signatory
Thanks & Regards,
Manya
From India, New Delhi
I would appreciate it if anyone could help me out. Here, I am attaching a salary slip format. Please go through it and let me know whether the components are correct or not. Or suggest any modifications that may be needed.
Salary Slip
Pay Date
June 7, 2010
Employee ID
Employee Name
Employee Address
Pay Period
From
May 1, 2010
To
May 31, 2010
Deductions
Basic Salary
Rs. 10,000
Leave Deductions
Rs. 5,000
HRA
Rs. 5,000
Others (if any)
Allowances:
Conveyance
Rs. 800
TDS
Rs. 500
Medical
Rs. 1,200
Cess on TDS
Rs. 15
Bonus
Leave Encashment
Misc
Rs. 16,000
Adjustment (if any)
Total
Rs. 32,485
Leave Head
Leaves Accrued
Leaves Taken
Leaves Cashed
Leaves Balance
Casual Leave
LWP
Others
Authorized Signatory
Thanks & Regards,
Manya
From India, New Delhi
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Sorry, guys,
It's not clear. Following are the components:
Basic Salary
HRA
Allowances:
Conveyance
Medical
Bonus
Leave encashment
Misc
Adjustments (if any)
Deductions:
TDS
Cess on TDS
Authorized Signatory
Please confirm if the components are correct, or if I should modify something else.
Waiting for kind replies.
Thanks & Regards,
Manya
From India, New Delhi
It's not clear. Following are the components:
Basic Salary
HRA
Allowances:
Conveyance
Medical
Bonus
Leave encashment
Misc
Adjustments (if any)
Deductions:
TDS
Cess on TDS
Authorized Signatory
Please confirm if the components are correct, or if I should modify something else.
Waiting for kind replies.
Thanks & Regards,
Manya
From India, New Delhi
9
hi manya & Farhan, in that payslip, date is missing.i think signature of the employee is also need. pragadeesh 8056711888
From India, Madras
From India, Madras
Hi, Basically its fine, no need of employee signature as it may not be practical. You may include date of Joining and leave balance details (if applicable).
From United Arab Emirates
From United Arab Emirates
Hi,
I got selected in a company with a package of 2 lakhs, but in hand, the company is giving me only 10,000 as discussed during the salary negotiation. What may be the deduction as the gap in the package and actual getting is too long. Can anybody tell me?
Thank you.
From India, Mumbai
I got selected in a company with a package of 2 lakhs, but in hand, the company is giving me only 10,000 as discussed during the salary negotiation. What may be the deduction as the gap in the package and actual getting is too long. Can anybody tell me?
Thank you.
From India, Mumbai
Dear Manya,
Body of the Salary Slip: Assume the salary slip size is half a page. In that, put 3 columns. One for Salary Structure, another for Actual Payment Column, and the last for deductions column. On the top of the 3 columns, you can give the company name, address, Employee Code, Employee Name, Designation, Fathers' Name, DOJ, Employment Status, etc. Below the 3 columns, Nett Pay on the right side. Number of working days, Number of days worked, Number of days leave granted, LOP on the left side. Bottom left "Manager's Signature" and Bottom right "Employee's Signature." I hope you can virtually bring the image in your mind of what I have described and can implement on paper.
RJ
From India, Madras
Body of the Salary Slip: Assume the salary slip size is half a page. In that, put 3 columns. One for Salary Structure, another for Actual Payment Column, and the last for deductions column. On the top of the 3 columns, you can give the company name, address, Employee Code, Employee Name, Designation, Fathers' Name, DOJ, Employment Status, etc. Below the 3 columns, Nett Pay on the right side. Number of working days, Number of days worked, Number of days leave granted, LOP on the left side. Bottom left "Manager's Signature" and Bottom right "Employee's Signature." I hope you can virtually bring the image in your mind of what I have described and can implement on paper.
RJ
From India, Madras
Please suggest if this format is okay. My package is 2 lac, and the company is only giving 10000 in hand. Why is there such a big gap? Should I join the organization? Please suggest and help me. Is it good to join or not? Waiting for help.
From India, Mumbai
From India, Mumbai
Hi Ashish,
1. Why is there no ESIC applicable to you? Your gross is less than 15000.
2. Annual Performance Recognition is significant; it's almost 25% of your CTC. You need to consider this because at the end of the year, the company may inform you that your yearly performance is not up to the mark, and therefore, you are not eligible for it. Make this point clear.
3. Accepting this offer depends on how much you are currently earning. If you are earning less than 7 to 8K, then it's okay. Otherwise, this is very risky.
As far as the format is concerned, only ESIC is missing, which will further reduce your take-home pay by approximately Rs. 750.
From United States, Dallas
1. Why is there no ESIC applicable to you? Your gross is less than 15000.
2. Annual Performance Recognition is significant; it's almost 25% of your CTC. You need to consider this because at the end of the year, the company may inform you that your yearly performance is not up to the mark, and therefore, you are not eligible for it. Make this point clear.
3. Accepting this offer depends on how much you are currently earning. If you are earning less than 7 to 8K, then it's okay. Otherwise, this is very risky.
As far as the format is concerned, only ESIC is missing, which will further reduce your take-home pay by approximately Rs. 750.
From United States, Dallas
Thanks Farhan for new format but i need to know whether my components are correct or not?? Please let me know if you can help me out. Thanks & Regards' Kitty
From India, New Delhi
From India, New Delhi
Hey Abhishek, thanks a lot for your prompt response.
See, as such, there is no structure, but yes, we give salaries according to the number of days, and TDS deductions would be there.
Now, we are planning to provide the salary slips to the employees. For that, we need a good format. As such, the structure is like:
Basic Salary
HRA
Allowances:
- Medical
- Conveyance
- Special
After that, we are planning for a performance bonus, which would be provided annually to the employees, say, 5% of CTC.
Then, a Loyalty Bonus, which again would be provided annually to the employees, 5% of CTC.
Deductions:
We don't have deductions in the structure like PF, ESI, etc., but yes, we deduct TDS and give them adjustments according to their tax-saving plans and all.
Now, my question arises, if we should give the performance bonus on a monthly basis or annually basis, as we are an IT company.
And, as I discussed a salary format above, just wanted to confirm if Leave Encashment is the right component in the salary slip.
Looking forward to hearing from you.
Thanks & Regards,
Kitty
From India, New Delhi
See, as such, there is no structure, but yes, we give salaries according to the number of days, and TDS deductions would be there.
Now, we are planning to provide the salary slips to the employees. For that, we need a good format. As such, the structure is like:
Basic Salary
HRA
Allowances:
- Medical
- Conveyance
- Special
After that, we are planning for a performance bonus, which would be provided annually to the employees, say, 5% of CTC.
Then, a Loyalty Bonus, which again would be provided annually to the employees, 5% of CTC.
Deductions:
We don't have deductions in the structure like PF, ESI, etc., but yes, we deduct TDS and give them adjustments according to their tax-saving plans and all.
Now, my question arises, if we should give the performance bonus on a monthly basis or annually basis, as we are an IT company.
And, as I discussed a salary format above, just wanted to confirm if Leave Encashment is the right component in the salary slip.
Looking forward to hearing from you.
Thanks & Regards,
Kitty
From India, New Delhi
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Salary slip format.xls