Working in an organization, you may have often come across a slip addressed directly to an employee indicating their salary and allowances for a particular month. This slip is known as a payslip. Payslips are issued every month and to every employee. A pay slip is a statement showing how much an employee earned in a gross amount less the deductions for Special funds such as Providence and pension funds. Payslips are commonly used in organizations big or small.
A payslip template is formal document which is given to employee along with his salary. It is very beneficial for employee as it helps him to make sure that he is on the right tax code, right amount has been deducted as tax, what amount has been earned by him. 21+ Payslip Template. A Payslip template is professional format which is one of the most important and essential financial document which shows an employee’s monthly earning which he/she earn as per policies of company or organization. It should have complete details about the total earning, deduction and net payable amount of the employee. This Payslip Template includes very distinct sections. The top is for company and employee details.The top right is for payment details as well as a message section where you can include additional details like how many vacation days your employee has left. Payslip For Employee Template! With advances in technology, most of the templates offered these days, are really good. These days, a large majority of organizations pay their employees and show records in ready slips. Top 14 Free Payslip Templates. Free sample Payslip Templates can be downloaded here. Payslip is a document that tells the exact amount of salary of an employee during a specific period of time. Payslip shows total salary and other deductions made by company. It is a tool used to keep track of your salaries before and after deductions.
In older days, pay slips were printed and given to employees as hardcopy. This practice is still common in some organizations. Many organizations also choose to email the payslips to employees.
Large organizations usually have online portals for their employees to manage their profiles, file online applications, and manage other administrative duties. These organizations also use the employees’ portal to upload payslips. So, each employee can log in into the portal and access their payslip online. Uploading on the online portal saves considerable paper and expense.
There are several benefits of payslips. Payslips are a way of communication about the salary between the organization and its employees and it works to effectively minimize any misunderstandings. Payslips can also prove helpful during external and internal account audits. Payslips are useful in comparing discrepancies that may arise when calculating provident or pension funds.
Every organization, big or small, issues payslips to its’ employees. A payslip is a statement of income and deductions for a particular employee. Each payslip is unique to a particular employee with their name on it. The payslip for one employee cannot be given to another since it is addressed to the employee with his/her name and employee ID.
Payslip and payroll both refer to two separate concepts. A payslip shows the salary and deductions for a particular employee only. On the other hand, a payroll is the list of all the employees working in an organization. The payroll not only lists the employees but also their salaries, bonuses, and any taxes withheld. Thus, the payroll is the total amount of salaries paid by an organization, and a payslip is for an individual employee.
In terms of importance, a payslip is important for the employee, so they are aware of the breakdown of their salary. Similarly, the payroll is critical for the HR department in the organization since any discrepancy in the payroll may cost the organization a huge loss. It is the responsibility of the HR department to ensure that the payroll is accurate and timely.
Both payroll and pay slips are generated at regular intervals. These intervals can be weekly, bi-monthly, or monthly. The most common duration is monthly.
A payslip generally includes:
- name of the organization
- name of the employee
- employee ID
- gross salary for the month
- any allowances such as housing, travel or communication allowance
- bonuses if applicable
- deductions for providence fund, pension funds
- taxes withheld
- net salary
A payslip may also include the past few months’ histories of gross and net income. The net salary is the take-home salary that the employee can spend.
A payslip is an internal, yet binding document issued by an organization. If someone wants to apply for a loan or credit card, they can use previous payslips as proof of salary. Moreover, by law, every organization must provide payslips to all its employees every time a payment is made to the employees. Thus, an organization that pays bi-monthly, must provide bi-monthly payslips. Thus, payslip is a legal document.
See the templates below.
Preview
MS Excel [.xls] | Download
Weekly Payslip Template South Africa
Weekly Payslip template
MS Excel [.xls] | Download
Biweekly Payslip Template
Weekly Payslips Free Templates
MS Excel [.xls] | Download
Monthly Pay Slip Template
MS Word [.docx] | Download
Free sample Payslip Templates can be downloaded here. Payslip is a document that tells the exact amount of salary of an employee during a specific period of time. Payslip shows total salary and other deductions made by company. It is a tool used to keep track of your salaries before and after deductions. Salary of an employee may specified by the company on the time of signing an employment agreement. Payslip may be required by the bank when an employee wishes to get loan. Aside from any legal deductions like tax or National Insurance an employer cannot make any deductions from wages or salary. Payslip generally prepared by accounting department of the company. Many companies are using software in order to prepare payslips for their employees. If you are owner of business and seeking to make a payslip, it is best way to use payslip templates in this regards. This Payslip Template is designed by professional and very useful.
This is a document given by an employer to an employee for the services he has rendered. Due to the innovation in recent days physical pay slip has been replaced by an electronic direct deposit to bank accounts. An employee may still receive pay slip, but if there is any attached cheque then it will be marked as non-negotiable. An individual receives pay slip when the direct deposit transaction has gone through as a notice form banker or an employer. The details of net amount before paying slip includes deductions of all taxes, pension, retirement plan, insurances and charitable contributions. Pay slips are labor analogs of remittance advice letters. The pay slip can be kept as a record of salaries paid to an employee for getting rid of misunderstandings between an employer and an employee. The use of pay slip is convenient for the traders. Hopefully you will like this Payslip Template.
Weekly Payslips Templates Microsoft
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