My friend started a proprietorship firm, which deals in mobile accessories, computer software, hardware, and services. He wants to give a salary slip to his employees, so please provide me a format of salary slip.
Tell me about the percentage of PF, ESI and TDS deduction and other various instrument of salary slip..
Sharad Gupta! To make the format of salary slip is so simple, you can create your own format in ms excel. Pay slip is the list of basic salary, other incentives and deductions. One column of pay slip, you can add the main earnings of your employees and in second column, you can add main deductions. Balance will be the net pay which you will be paid with Salary slip. Following may be its format
PF, ESI and TDS are the main deduction, except this, there may be other fund deduction which may be deducted from total earning of employees. Sometime, employees take loan, at that time, employer deducts installment of his given loan out of salary. So, all these will be included in deductions. All these deductions are some % form and will be updated from time to time. Some deduction may be % on basic salary and other may be % of basic salary plus allowance etc. So, you have to go the Govt. Official Sites for getting all updates. For example, you want to know EPF updated rates of deduction, for this, just go to http://www.epfindia.com/. If you want to ESI, you need to get update from http://esic.nic.in/ .
If you want to get update of TDS, you need to go http://www.incometaxindia.gov.in/home.asp . So, study and study, you will learn everything what you want to know.