Salary slip format in excel with formula

Salary slip format in excel with formula manual#
Salary slip format in excel with formula professional#
Salary slip format in excel with formula download#

These templates are preferred over manual ones because they are embedded with formulas and the user does not need to apply the formula for calculation.Once you have downloaded the template, it would open on its own and you can edit the data as per the requirement.

Salary slip format in excel with formula download#

Select as per your requirement and download It would now display various templates that could be used. While you explore those templates, you would see a folder for Payroll

After clicking New, a box would appear displaying available templates It also consists of Office Templates.

Click the File tab, and you would see an option of New.

Download MS Excel if you do not have one, already.

Below are mentioned few steps which are used to create template on MS Excel: MS Excel provides the user with an inventory of templates that can be used by the finance department to create salary slips of the employee. The pay slip at MS Excel can be generated or created by two means: Below is given an overview of different formats of salary slip for different countries: India/Pakistan of working hours/days, and details of BankвЂ™s branch and account. The salary slip may also contain EmployeeвЂ™s ID, No. (Any other allowance or deductions may become part of salary slip as per the requirement or rules of the company or state)

Net Pay вЂ“ the total payment which an employee receives after deductions have been made.

Salary slip format in excel with formula professional#

Taxes вЂ“ income tax, professional taxes, or any other tax may get deducted from the employeeвЂ™s income as per the countryвЂ™s or stateвЂ™s law.

Employee Old-age Benefit Insurance вЂ“ deducted from the employeeвЂ™s income, which can be later claimed by the employee from a relevant institute which manages employees pensions.

Provident Fund вЂ“ it serves as a serving, and the amount which is deducted from employeeвЂ™s income is returned as twice by the employer when the employeeвЂ™s contract ends.

Bonus вЂ“ added to income, in case of exceptional performance.

Medical Allowance вЂ“ it as an allowance given to an employee, to make up for the medical expenses.

House Rent вЂ“ it is added to an employeeвЂ™s earnings if he /she lives in a rented home.

Basic Pay вЂ“ the income which an employee without the addition of any allowance.

Header:В which includes the title (salary slip), and month (for which the salary slip is being issued).

It is a right of an employee to be provided with a salary slip, and the employers are, in many countries, are legally bound by the law for issuing a salary slip to all of the employees, as evident from the Fair Work Act 2009, Section 536, which states an obligation on employers to issue payslips to the workers or employees. The employee should maintain a record of all of the provided salary slips, to use them later when the need arises. Thus, for an employee, it is important to have a salary slip as it can help him/her for any of the above-mentioned reasons. Also, the salary slip helps an employee to ask for a salary raise from the existing employer, based on performance and market competitive salary

The salary slip helps in negotiating for the salary offer.

Reference document for Existing/Potential Employer вЂ“ while processing for an application process of a potential employer, the employer may require the applicant to submit a copy of the existing or previous contract, or a salary slip.

Thus, it helps in calculating the income tax to be paid by the employee or to be claimed by means of income tax refund

Calculation of Income Tax вЂ“ a salary slip provides complete details of earning and deductions (which could include provident fund, federal tax, or any other deductions).

Validation for Financial Institution вЂ“ when an applicant applies for a loan, credit card or opening of a bank account, the banks require the applicant to provide a source of income which could serve as a proof of the borrowerвЂ™s ability to return the debt.

Thus, during the visa application process, a salary slip provides an account of the income source of the applicant, by serving as a proof of employment

Proof of Employment вЂ“ while applying for an International scholarship program, or international travel, the visa agencies require a bank statement of the applicant to track the account balance.

Below are mentioned few points which refer to the importance of a salary slip: A salary slip could be helpful in many ways.