This will decide whether or not you’re expected to pay income and other taxes, along with the amount you will be required to settle every year.Īdditionally, a salary slip also guarantees access to particular government-provided services that are either given for free or with a heavy subsidy. In some countries, employees are responsible for computing their taxes.
Keep in mind that a salary slip can be a vital document for future reference. The credit limit granted to an applicant by a financial institution would also reflect what has been stated on the individual’s salary slip. This is an important legal document that every employee is entitled to receive from their respective employers to serve as proof and a general statement of your monthly earnings and deductions (if any).Ī salary slip may also be used for other purposes, such as a requirement for a bank loan and mortgage to show that one is financially stable enough to pay it back. A salary slip, otherwise known as a payslip or salary receipt in certain countries, is given to employees to inform them of their monthly pay and allowances.
