If you are an employee or have been in the past, definitely you would have come across a payslip or payslip template at some point of your life. A payslip is an essential record of your employment. It helps you to understand and handle your money.
Payslip Template Format
A payslip contains a huge amount of information and can be confusing quite times. The components of a payslip can be seen in two parts - Incomes and deductions. Under the income section comes basic salary, dearness allowance, house rent allowance, conveyance allowance, leave travel allowance, medical allowance, performance bonus, and special allowance, and if any other allowances that as well. The components come under the deduction part of payslip is a provident fund, professional tax, and tax-deductible at the source.
Understanding all the info in a payslip template is difficult. You might have different queries and concerns about these. Therefore, it is necessary to know all the sections on a payslip template. Today we are going to look at some of the common payslip templates and review it.
What is the importance of a Payslip?
Payslip is much more than a mere document with salary components. The following are some of the important benefits provided by a payslip.
- A payslip forms the basis for income tax payment. It determines how much tax one needs to pay and how much refund can be claimed by the employee.
- A payslip provides access to various facilities including subsidized food grains, medical facilitation, etc.
- Payslip helps the employee to borrow money especially in availing loans, mortgage, and other borrowings.
- A payslip is a proof or legal evidence of a person’s employment.
How to Create Salary Payslip Template in Excel
One of the important questions many HR managers have is how to create a salary payslip or how to format it? Well, the answer may vary for different companies because each company follows a different structure. However, every company wants their payslip to be professional and in good quality. It should cover all the necessary information in a precise and concise way. A typical payslip template in excel must include the amount or pay before and after the deductions. Also, the deductions must be precisely stated. This includes social security, taxes, pension schemes, and insurance.
Sample Blank Payslip Template
Sample blank payslip templates are used by may HRs. They can add the specific details and information to the template and keep it professional. The template allows the HRs to include only relevant info and create it in the way they want, allowing freedom for them. They can personalize the payslip and keep track of the employee payment details as well.
A blank template can also be used to try payslips for the employees. Even if you got anything wrong, you can go back and change it in the template. A sample blank payslip template makes everything easier for the HRs.
Monthly Payslip Template
A monthly salary slip is proof of the salary an employee receives from the employer per month. Apart from this, the employee can apply for a loan or a mortgage using this document. A monthly payslip template comprises payment month and year and the other necessary details.
Salary Payslip Template
A typical salary payslip comprises the employee’s basic salary perks/allowances and the deductions.
The Payslip template for salary must be 100% professional. The format may vary according to the policies of the company. However, it should include the company name, its logo, and address. Also, the salary slip’s month and year, employee code used for his/her identification, employee PAN card or Aadhar card number, and the bank account details.
Simple Editable Payslip Template
There are occasions when the company wants to add something else into the payslip which is previously not there in the template. A simple editable payslip template can help in such a tough situation.
Online Payslip Template
What should be included in an online payslip? Let’s take a look at some of the important components included in an online payslip template.
The employee’s personal information, that is his/her name and address which will be used for identification purposes. A payroll number is an essential tool in employee identification. The other information included in the payslip is tax period, tax code, gross pay, net pay, social security number, expenses, pensions, and workplace benefits.
Sample Payslip Template in PDF, Excel, Google Docs & Word Doc
Payslip template is available in different formats. Sample templates can be made not only in excel but also in PDF, Word doc, and Google doc format as well. The templates help you to customize your payslip and provide you the best one.
It is advised to keep the payslip you receive at a safe place. This is to avoid identity fraud and security issues.
Payslip Template in PDF Format
Payslip Template in Word Format
Payslip Template in Excel Format
Payslip Template In Google Docs