Also known as Pay slips, Salary Slips are paper documents or electronically generated financial tool containing the details of employees’ earnings and deductions as paid by the employers. It is principally designed to show the net earnings of an employee, but could also help to clarify different deductions made from his or her gross earnings. Besides showing payment details, a Salary Slip should also contain the details about the employer and that of the employee, the payment periods covered and the date of payment.
To start with, companies without a Salary Slip will be considered as non-serious organizations and will likely have a management poised to short-change its workforce. Consequently, employee of such companies are bound to be ignored and denied due respects by other organizations and financial institutions when he/she requires their help. Without a doubt, there are several advantages of being a part of a workplace where Salary Slips are not considered a luxury. The following are some of the countless benefits of having a consistent Salary Slip.
First, Salary Slips serve as proofs of your financial earnings and ability when you approach a financial institution for some help. No financial institutions will take you seriously if you can’t show them a proof of your periodic and consistent financial inflow in form of a Salary Slip. Secondly, a Salary Slip clarifies the calculations that precede payment of an employee’s remunerations. You shouldn’t be surprised that, sometimes, your organization makes blunders in the deductions undertaken before the payment of your salaries. Assuming that all the calculations were flawless, you still deserve to know how and why the deductions occurred to your earnings were made.
Also, a Salary Slip confirms that you are working with a reputable company where you earn a respectable income. It will also help to high other expenses like those incurred on health care, loan deductions, even extra payments for overtime and bonuses. Furthermore, a Salary Slip can also validate your specified earnings while being interviewed for a new job and are also acceptable legal documents. You can show your Pay/Salary Slip as a form of clarifications in legal tussles that border on your earnings.
A Salary Slip can also help to check unnecessary distrusts and suspicions between the employer and the employee. Periodic and unusual deductions are easily clarified based on Salary Slips. It can also sometimes be required for visa applications and processing especially to an oversea destination. Lastly, a Salary Slip can also be used for salary claims in case a person has lost his/her job or was involved in an incident/accident that renders him/her disabled.
In conclusion, it is important to request for Salary Slips at your place of work if you are not getting one presently. You should also ensure that you keep the Salary Slips properly as they may contain sensitive information that is not meant to be accessed by a stranger or (unauthorized) third parties. Depending on the templates, some Salary Slips contain sensitive information that may expose an employee to criminal and/or financial frauds.
Here is a good looking but Free Salary Slip Template created using MS Word,
Here is download link for this Salary Slip Template,