Interview with Indian Oil Corporation Officers M. Sridaran, Chief Finance Manager, Marketing Division, Chennai, and Pitamber Tripathy, Manager (Terminal), Marketing Division, Chennai, on 17-1-09
Profit sharing by the board members
As an employee, it’s very important to understand how payslips are made in India. We have endeavored to provide you some of the salary slip samples that would guide you to understand the contents of it. It shows the salary breakup with details of all the emoluments that you get. So, it includes basic salary, allowances, deductions, income tax, provident fund, overtime, and HRA etc. Exemptions should also be mentioned on the salary slip. In short, a salary slip provides complete details of your CTC to make the process transparent.
Sample Payslip format for the month of Feb 2015
Logo Of Company
Address Of The Company
Sunil Kumar Singh
India East region Operation Dept.
Bank Of India
Bank A/C No.
PROVIDENT FUND No.
Effective Work Day
Employee Provident Fund
Net Pay: Rs. 41,000 (Rupees Forty One Thousand Only)
**Note: This is a Computer generated payslip and does not require any signature.
Normally HRA is 50% of the basic salary, but it’s subject to variation according to the city you are in. Employee provident fund deduction is for future financial security of the employees and normally it is 12% of the basic part of your salary.