WHAT IS COMPUTER GENERATED SALARY SLIP

Posted on 27th Jul 2018 | 1363 views

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Computer Generated Salary Slip

Salary slip is contains the details of the salary and tax deducted, allowances provided by the company the components if the salary slip or the main salary differ from company to company it shows the benefit that employee get from tax deductions as well as from allowances it is mostly useful for the tax payment purpose and computer generated salary slips are hose which are usually sent through mails and these are doesn’t provide the authoritative signature below are the basic and main components that every salary slip contains.

Computer Generated Salary Slip

Main components are

Basic salary it is the fixed part of employee your income based

Conveyance Allowance

Dearness allowance (DA) it protects the employee from inflation. It’s taxable.

House rent allowance (HRA):- Employers allows HRA to meet the expenses incurred for living in a rental home

Medical Allowance This allowance is given to employees to cover the medical expenditures

Professional Tax is the tax charged by the state governments in India.

Provident Fund or Employee Provident Fund is a retirement benefit applicable only to salaried employees.

Leave Travel Allowance Leave travel allowance (LTA) and other allowances and deductions

Some other components are

Employee Code

Employee Name

Working Days

Designation

CTC

DOJ

Bank A/c No

Department

Some companies might include the info about the leaves which is optional

Main components are

This is a computer generated slip and does not require signature.

Note: Tax has been deducted tentatively, after considering the maximum limit of tax saving investments

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