Effective Employee Payslip format

Free employee Payslip template for Excel – Printable sheets

A Employee Payslip template is an accounting document may use to detailing payment amount to employee. The document may contain the salary or even any other payment details, including salary and its deductions, bonus, special motivational payment or awards in terms of money. Practically, the document issued by an employer to pay an employee for services, with extracted details such as salary amount, taxes, insurance, overtime hours and amount etc.

 

The businesses are providing this statement document to their employees about their payment they receiving. This is actually instant slip through employees can verify their monthly / weekly payments with their own calculations. Usually, this slip having two parts – gross payables, and deductions from the gross payables of the individual employee. Payslip is important both the parties – employee and employer (Accounting dept. can verify for their regular accounting effects.)

 

 

 

What to include in employee Payslip?

 

The components of a Payslip structure may be different from business to business. Usually, the slip divides into different compartment that representing segments of the employee’s financial information. Herein you can find out the basic structure as well usual components may have used in the standard pay slip.

 

Organization’s information

 

At the first at top of the slip, you have to describe company details such as business name, address, contacts as well specified unit details. Even you can also specifically describe the actual location where employee working in, mean department, unit, or workplace.

 

Period of payment in Pay slip

 

This is actually one of the important part of the pay slip. You can specifically describe the details of duration of the payment made for individual. For instant – “Start Date to End Date”, “For month of …….”, “For week ………..” etc.

 

Issue date

 

Employers are providing a Pay slip to employee for providing employee’s paid or payable amount for their services to company. The date which is require to describe at the top of the slip will be issued date. The date will be describing – when this slip is generated.

 

Employee Information

 

Typically, there are some vital information about employee which is registered with human resources’ register. This information may include the employee’ name, its registration number, department name / workplace name, supervisor name etc. The employee ID is option, some businesses are using the employee’s specific ID for tracking and communication purpose. This is actually good idea to avoiding any confusion with employee’s name. Most of the businesses are facing such problems with name of employee, just example – there may be possible multiple peoples having a same name mean – John smith.

 

Employee’s payment details

 

Practically, the earning can be in various forms. It may be regular salary, bonus or even awards. But still this is earning for employee which is provides by employer against the employee’s services to company. Here are some basic details about the employee earning can be includes in pay slip:

 

There may be in two section: 1st is earning and second is for deductions:

 

Earnings:

 

  1. Basic Salary. Typically, the basic salary is actually fixed wages for hours or monthly fixed amount by employee for individual. This salary amount is actually taxable. All the taxes will be applying before net payables.
  2. The allowances are actually employees get extra payment get from the employer as addition to the salary. Such as dearness allowance, medical allowance, overtime, house rent, conveyance or transport allowance, leave travel allowances etc.
  3. Bonus may be annual or performance. When any employee performs their duties exceeding expectations of the employer, company can allocate the bonus to employee for motivate them. This is calls “performance bonus”.
  4. The awards are probably – motivational payment that may give to employee who perform well – or even any outstanding achievements during a period of time.

 

Deductions:

 

  1. EPF [Employee Provident fund]. This is actually mandatory saving amount, which in contributes by both – employee and an employer. The amount of EPF is deducts from the employee’s earning on every month of payment. The percentage of the amount (as per government rule) – employer is also contribute and submit to EPF office. This amount is recurring when employee retired or wish to withdrawal from EPF account.
  2. ESI [Employee State Issuance]. This is also important which is beneficial contributions which is deductions from the employee’s basic salary. This is actually for the medical benefits which is very minor amount is deducts from employee’s salary – and they can get free medical facility from the government hospitals.
  3. In some cases, any employee had taken any amount in advance, it may be requiring to describe under the deduction head. This amount is probably not load, the amount if return in same month as deduction is considers in advance.
  4. Expenses / other deductions. Herein this section, you can describe some official loans deduction amount, any special expenses done by employee.
  5. TDS / IT [Tax Deducted at source / Income tax]. This is mandatory deduction when any employee’s basic salary is cross the income slab. The amount is deducting from the employee’s payment, which is non-returnable and submits in income tax department.

 

Calculating Net payment

 

The amount of the net payment is calculating on based of the sum the both sides of the part of Pay slip. This sections are Earning and deductions.

 

Net payment = Earning – deduction

 

This net payable is actual payable to employee from the employer.

 

 

Other details

 

At the bottom of the slip, you can describe some important information which is enhance the information for verification at accounting department as well employee also can check to view it. The information may include – Ney payable amount in words, Bank name, cheque number, date of cheque – if the amount is paid by cheque or any other way instead of cash.

 

Sign off

 

End the end, when employee receiving the payment, one copy of the Payslip will be given return to employer with its signature, and second copy for employee. Even, there may be require authorized signature – It may describe the authority had checked and reviewed the Payslip details.

 

Sample of Payslip template

Company Name
Office No., Building Name, Street Address
City, Zip Code, Country
Phone No. | Fax No.
Email address || Website address
Salary Month:………………
Period: Start Date: …………… to End Date: ……………
:: EMPLOYEE DETAILS ::
Employee Name: ………………………………….2. Employee ID: ………………………………….Designation / Position / Unit: ………………………………….Wage/ Hours: ………………………………….
EARNINGSAmount ($)DEDUCTIONSAmount ($)
Basic Salary$ 00.00EPF [Employee Provident fund]$ 00.00
Allowances$ 00.00ESI [Employee State Issuance].$ 00.00
Bonus$ 00.00Advance.$ 00.00
Awards$ 00.00Expenses / other deductions.$ 00.00
TDS / IT [Tax Deducted at source / Income tax$ 00.00
Total Earnings$ 00.00 Total Deductions$ 00.00
NET EARNINGS$ 00.00
Amount in Words [Net Payable]: ……………………………………………….
……………………………………………….
……………………………………………….
LOAN DETAILS:
Loan / Advance No # : ______________________________________
2. Loan Amount: _______________________________________________
This Month Deduction: ________________________
Balance Loan Amount: _________________________
PAYMENT METHOD:
Name of Employee’s Bank: ……………………………………………
Cheque / Wire Transfer/RTGS/Online Payment ID / No: …………………..
Date of cheque / Payment: …………………………………………..
Employee Sign: __________________________ Date: ……………Authorized Sign: __________________________ Date: ……………

 

 

Simple employee Payslip template Excel

Free employee Payslip format
Staff / Employee Payslip

Sheet Download

The Pay slip template is actually a financial document may contain individual employee’s earnings, deductions as well as taxes details, to describe net payable amount for particular period / month. This template may help you to organize same details which is generally require to include in it. The template will be coming with blank format, where you can have filled details as your accounting system and employee’s requirements.

 

Printable employee Payslip template

Sample employee Payslip excel sheet
Employee Payslip Template

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The preview of the template may describe the simply, how the template will be helpful, and how it works for describing some important payment details as salary. The template you can download and customize for personal as well as business purpose. Even more, this template is made in Excel sheet. Where all the details, design, as well contents – you can change, modify, add, remove, as you wish.

 

 

Excel employee Payslip template

Simple employee Payslip format
Excel Sheet – Employee Payslip

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The Pay slip template is actually very important document for business / organizations. Because this document may help to employer for provides a written detail about individual employee’s payable details. This details will be also helpful for employers.

  • They can also verify:
  • Individual wages hours
  • Monthly salary
  • Bonus, as well
  • Deductions etc.

Which is directly related to their payments. The Payslip can also include the load or advance details. That much important for employee to review their existing status of loan amount.