Dear Seniors, Is it necessary to show deductions in salary certificate or just earning details is enough, kindly confirm my query?
From India, Bangalore
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11From India, Bangalore
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There is no thumb rule or fixed format of a salary certificate. You can decide either way.
Sometimes, salary certificates are needed for a specific purpose, such as applying for a loan from a bank. In such cases, the bank is interested in knowing the employee's real net income to determine the borrower's loan repayment capacity. They insist on providing a certificate with deductions. In fact, some banks have a fixed and very detailed printed format that they require to be filled out and signed by the employer. This format provides a clear picture of both the gross salary and net salary of the employee. Additionally, it discloses whether the employee has taken any loans from the employer, the loan installment amount, and the outstanding loan amount.
From India, Pune
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Sometimes, salary certificates are needed for a specific purpose, such as applying for a loan from a bank. In such cases, the bank is interested in knowing the employee's real net income to determine the borrower's loan repayment capacity. They insist on providing a certificate with deductions. In fact, some banks have a fixed and very detailed printed format that they require to be filled out and signed by the employer. This format provides a clear picture of both the gross salary and net salary of the employee. Additionally, it discloses whether the employee has taken any loans from the employer, the loan installment amount, and the outstanding loan amount.
From India, Pune
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EMPLOYEE SALARY INCOME TAX CALCULATION.xls x
SALARY CERTIFICATE- MINISTRY OF FINANCE's Notification on formats.docx