A payslip is a compulsory document issued by an employer containing all the information pertaining to the payment of an employee’s salary.
How to Make a Payslip?
The payslip allows employees to check their salary’s calculation and deductions. It must contain the following information:
- Employer’s name and address
- Employee’s name
- Job title
- The period covered by the payroll
- Date of payment
- Number of hours paid at a regular rate
- The number of overtime hours paid or replaced by time off, and the applicable rate
- The nature and amount of any bonuses, allowances or commissions paid
- Salary rate
- Gross wages
- The nature and amount of deductions received
- Net salary
- The amount of declared or allocated tips
Other information may be required by law.