What is a salary slip?

A salary slip also called a pay slip is a document that contains an in-detail breakdown of the salary of the employee including deduction of tax etc. for a certain period of time. A salary slip is generated once in a month by the employer. All companies are legally entitled to generate salary slips every month as proof of payment of salary to the employees.

Components of Salary Slip

The following components constitute the income side and deduction side in a salary slip.

Income side

  • Basic salary

  • House rent allowance

  • Medical allowance

  • Conveyance allowance

  • Special allowance

  • Dearness allowance

Deduction side

  • Professional tax

  • Employee provident fund

  • Tax deducted.

We at bestlegalservices.in and our experts can assist you in smooth processing of payroll and generation of salary slips.