Salary Slip Format in Excel Download
Pay slip is a must need for an employee.
It is an essential for career record keeping, future job applying, tax paying, and banking & loan purposes. However, most of the companies are providing Pay-slip of employees but, some small scale industries who are not aware of this and want to know how it can be prepared can check the below mentioned method and can create pay-slip manually or with the help of computer programming.
Pay slip formation method
CTC = Basic + HRA + CCA + MA + DA + Bonus + PLL Allowance + PF + ESI + Insurance
CTC = Cost to the Company
HRA = House Rent Allowance
Basic = Basic pay
CCA = City Compensatory Allowance / Conveyance Allowance (C.A.)
MA = Medical Allowance
DA = Deputation Allowance
Bonus = Performance Bonus / Ex-Gratia
PLL = Process, language & location Allowance (Based on these skills)
PF = Provident Fund Contribution
ESI = Employee State Insurance Contribution
Insurance = Company’s insurance