A salary is a form of regular payment from a boss to a worker, which is settled by both the parties in an employment contract. Salary may be given to workers on a regular timely basis. It can be hourly, weekly, fortnightly, or monthly. In businesses, salaries given to the workers are often termed as personnel or salary expense, and are recorded in payroll accounts.
When salary has been given to the employees, or added to his account, it is the duty of the employer to generate pay slips, showing deducted taxation or insurance amount along with the figures for housing allowances, medical allowances, basic salary, and other details. At the end, gross salary is revealed.
Payslips help the accounts keeping in preserving detailed records of each employee’s pay, and therefore, important for making certain that all finance records are organized in the best way. People generally use free salary slip templates from the internet, like the one you can see below, for their own use. It not only saves your time, but also simplifies your work, and you can get well designed pay slips in just a matter of minutes.
This salary slip template gives you an idea about how a salary slip should look like. This is a very professionally created salary slip template, with details like the employee name and the title he is working and also the different deductions in his salary and the net amount he is receiving at the end of the month.