Salary Certificate: Elements, Uses, Salary Format, Salary slip

Income Certificate is a verification file released to employee by company to declare about his income received from his work. It represents an association of the employees with that organization and covers all the material information with respect to the particulars forming part of the salary such as Standard Pay, Home Lease Allowance, and other allowances and perquisites.

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Content in this Article.
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Components of the Salary Certificate

The contents of the salary certificate may differ from company to organization and hence listed below reference list is only a sign and not exhaustive in nature. It may include extra details aside from the details discussed below.

  • Name of the company.
  • Date of joining the company.
  • Basic Pay, Dearness Allowance, House Lease Allowance, Other Allowances and so on
  • Deductions i.e. Staff member Provident Fund Contribution, ESIC deductions, Insurance, Loans etc.
  • Utilizes of Wage Certificate

  • Information concerning numerous perquisites offered in the form of wage which are dealt with to be a part of the salary.
  • Banks may demand income certificate as a file with respect to issuance of loans. You should ensure that only income credit is not enough, you should make sure that even all the income sheets are effectively gathered and submitted by you.

    Difference in between income certificate and wage slip

    Typically the two terms salary certificate and income slip sound similar, but they are different terms. The standard point of differentiation is the time frame. Salary slip is provided for a month, say March 2020 whereas salary certificate may be released for a particular duration which may be as needed or a complete financial year or the required duration. It can be your whole tenure in the company also.

    Wage Certificate Format

    Salary Certificate

    Format of Wage Certificate

    Name of Company
    SALARY PAYSLIP
    NAME Mr. ______ _________ ____________
    PAN _________________
    MONTH _________________
    EARNINGS REDUCTIONS
    INCOME HEAD AMOUNT (Rs.) INCOME HEAD AMOUNT (Rs.)
    Fundamental —– Occupation Tax
    H R A TDS ——-
    Conveyance allowance Wage Advance
    Kid/ Self Allowance
    Spl. All
    Others
    Medical Allowance
    SALARY (GROSS)/ PM ———
    Ex gratia
    Medical (Reimb)
    Conv (Reimb)
    Telephone (Reimb)
    Others (Reimb)
    SALARY (CTC)/ PM ———- OVERALL REDUCTION ——–
    Money in Hand (PM) ____________
    Prepared by Examined by Authorised by

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