It is a document which indicates the total salary. It can be a weekly, monthly or annually. This is a written proof that the employee has received his salary. It is very helpful for calculation of salary as well employee’s income. It is given by the employer to his employee. It is kept by both employer and employee for future issues or disputes. An employee can claim his salary in case of wrong salary slip. Serial numbers of salary slips help in calculation about the total number of employees. It also plays important role in keeping record of salary of all employees in an organization. Sometimes these slips checked by tax department for confirmation of total salary.
It is given to you every month, by your finance department once your salary gets paid out. It is most importantly used when you have to apply for a loan or a new credit card. It will help you to choose smartly from competing offers when you are looking to switch jobs and to understand what percentage of your salary is forced savings (EPF, ESI etc.) It also includes employee’s name, designation, and month of payment, date of payment with signatures of both employer and employee as a proof that payment has been made by the employer and has been received by the employee.
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