![]() Most banks, NBFCs and lenders approve loan application quickly if the borrower is employed as they have an assurance that the loan amount will be repaid duly. Government provides several facilities like medical care, subsidised food grains and other subsidised facilities which can be accessed by employees only if they have a salary slip. It is required for preparing income tax returns and to calculate the tax amount to be paid or the amount of refund to be claimed for the year. ![]() Salary slip is used to compute one’s income tax. It forms the basis for Income tax payment. ![]() Each and every employer is bounded legally to issue the salary slips to its employees as proof of the salary payments to employees along with deductions. However, some issue it as a hard copy as well. Most employers nowadays provide a salary slip through emails. It is given to employees by the employer and has a detailed analysis of salary components like LTA, HRA, Bonus etc and also deductions like leaves etc. Readout everything you need to know about the salary slip to stay alert and aware.Ī salary slip is a documentation of an employee’s salary. Most people do not understand the meaning of the various aspects of the salary slip. ![]() Along with the salary which is mostly transferred in the employees account directly, every salaried person receives a salary slip every month which has details of his salary with different components and deductions. Salary is something which the organisation provides to its employees in lieu of the work the employees offer for the organisation. ![]()
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