Useful Salary Slip Formulas 1īasic wage + HRA + Conveyance + Medical + Special allowancesĠ.75% of employee gross wage. Step 7: Now take out the printout of the salary slip and sign it and distribute to employees. Step 6: Now subtract all the deductions from the earned gross salary of the employee in that particular month, the balance amount will be the net salary of the employee. Other(Special) Allowances (Balance allowances) HRA (40% of the basic wage for nonmetro cities)Ĭonveyance Allowances ( 1600 Rs in urban areas) Step 5: In another column add deductions such as EPF, professional tax, ESI/health insurance, TDS, salary advances, etc… Salary calculation formula for the total paid days = (Original gross salary/Total days in the month) X Paid days in that month. Board Resolution (As per bank format) Letter of Authority (As per Bank format).
The sum of all the earnings will be called the actual gross salary of the employee. Form No 16/IT Return Latest Salary Slip 3 Months Salary Credit Bank. Step 4: Now in one column add all the earnings of the employees such as basic wage, house rent allowances, conveyance allowances, medical allowances & special allowances.