Finally, it’s time to subtract the gross pay and deductions to get the net pay. They’ll save you time when you’re creating payslips for each pay period. Formulas enable you to automatically calculate totals once you input numbers in the cells.

The deductions table will include insurance, taxes, etc. The earnings table should include all income, such as salary, bonuses, overtime pay, etc. This format makes it easy to compare data across the table. Next, create two sub-tables to include employee earnings and deductions. The top of the table should include a field with your company name, logo, and relevant employee information (like name and employee ID).

Create a section for company and employee information.

You can borrow a payslip template to get you started or create your own basic table with space for all of the categories you want to include. Here are the basic steps for making a payslip in Excel: You can add your own company logo and use whatever font placement or headings you want, since this is a completely DIY method. Useful Salary Slip Formulas 1īasic wage + HRA + Conveyance + Medical + Special allowancesĠ.75% of employee gross wage.If you want the freedom to create a completely customized payslip, you can use Excel or another spreadsheet program to do so. 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. The sum of all the earnings will be called the actual gross salary of the employee. 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. To calculate total paid days subtract LOPs from the total days in the month. Step 3: Now enter the number of days in the month and the LOPs (Loss of Paydays) of the employee. Step 2: Now enter the employee’s general details like name, designation, department, date of joining, gross salary, bank details, and any other required information as per your choice. Step 1: To create a salary slip/pay slip open a new Excel sheet and write your company name, address, and payslip month & year in the first three rows of the Excel file. Download Excel How to Create a Salary Slip in Excel

Us salary slip format