Dear all
I am going to issue Salary Certificate to one of our employees for last financial year. In that case please confirm whether Salary Certificate should contain only the components as mentioned in Pay Slip or it should contain Bonus, Leave Encashment etc. also.
Waiting for our valued response.
Subrata Singha
From India, Calcutta
5I am going to issue Salary Certificate to one of our employees for last financial year. In that case please confirm whether Salary Certificate should contain only the components as mentioned in Pay Slip or it should contain Bonus, Leave Encashment etc. also.
Waiting for our valued response.
Subrata Singha
From India, Calcutta
Hi Anonymous, Salary component which we include in salary slip will work. No need to mention bonus or leave encashment or anything else. Regards, Shreya Parikh (HR)
From India, Pune
From India, Pune
Well, you can go with both the option as per your choice but my point is to what will be the difference in the salary certificate if it is the same as pay slip. So better if you mention all the amount credited to the employees account. first you should mention the salary and deductions etc as mentioned in payslip and below you can mention the Bonus, incentives, leave encashment etc.
From India, Lucknow
From India, Lucknow
Leave encashment is not a regular payout. You can capture only the regular payouts in the salary certificate. Pon
From India, Lucknow
From India, Lucknow
Hi Subrata Singha,
Salary certificate will have only the base salary/CTC and any other component apart from CTC like Bonus, Incentives, Gratuity, Overtime, etc would not be a part of Salary Certificate.
From India, Bangalore
Salary certificate will have only the base salary/CTC and any other component apart from CTC like Bonus, Incentives, Gratuity, Overtime, etc would not be a part of Salary Certificate.
From India, Bangalore
Hello Subrata,
The components to be reflected in the annual statement which you are to issue depends upon the purpose for which it is being issued.
1. If it is being issued for a loan purpose(pl make a mention of purpose always at the end of certificate), you should give the regular components of salary payable, regular/statutory deductions and Net/Take home salary details.
2. If it is being issued for Income Tax purpose, i.e. in the form of Form -16, you need to include all the payments made including Bonus, Leave Encashment, incentive paid in cash-if any, etc. This will include the TDS also during the financial year in question.
Best Wishes.
AK Jain
HR Personnel
NCL, CIL
From India, Jabalpur
The components to be reflected in the annual statement which you are to issue depends upon the purpose for which it is being issued.
1. If it is being issued for a loan purpose(pl make a mention of purpose always at the end of certificate), you should give the regular components of salary payable, regular/statutory deductions and Net/Take home salary details.
2. If it is being issued for Income Tax purpose, i.e. in the form of Form -16, you need to include all the payments made including Bonus, Leave Encashment, incentive paid in cash-if any, etc. This will include the TDS also during the financial year in question.
Best Wishes.
AK Jain
HR Personnel
NCL, CIL
From India, Jabalpur
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SALARY CERTIFICATE- MINISTRY OF FINANCE's Notification on formats.docx