Payslip is probably a term that is all too familiar to people working in large and small businesses and organizations. It is an important document that can provide you with information regarding your monthly salary.

Let’s join Ms. Uptalent to find out more about what Payslip is and its importance through the article below to better understand!

CONTENTS:
1- What is the pay slip?
2- Meaning of the pay slip
2.1- With employee (employee)
2.2- With the employer (employer)
2.3- With human resources managers
2.4- With banks and credit institutions
3- Information in the pay slip
4- Pay slip form
4.1- Example of Vietnamese salary slip
4.2- Example of salary slip in English

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1- What is the pay slip?

By pay slip, we mean the salary slip or pay slip of the employee. The contents of your payslip will indicate the amount of money you receive for a specific period of time, such as 1 month, 3 months, 6 months or a year.

In addition, you can also view the pay slip as a confirmation document. income it’s official. This is of great importance when you need to borrow money, open a credit account or confirm income for any purpose.

According to Uptalent, Payslip is currently released in many different formats. It can be in printed, electronic or electronic form. The choice of format will depend on the size, characteristics and management method of each company.

Following the development of the Internet platform and modern technology, electronic pay slips are the preferred choice of many companies due to their convenience, cost savings and environmental friendliness.

Normally, companies will pay you a few days or a week after the payroll is released. The time it takes to pay salaries quickly or slowly varies because each business will have a different business model.

2- Meaning of the pay slip

Doing payroll is not spontaneous work but is part of the requirements of labor law. The nature of this employment is legal and it also provides certain values ​​to employees, employers and individuals and organizations with other needs.

2.1- With employee (employee)

For employees, pay slips are important and significant documents. Specifically:

– It is the best proof of the work you do and the income you receive.

– If you are looking for a new job, the employer may ask you to provide a salary slip to confirm that what you have stated in your CV is correct. On the other hand, you can also count on him to negotiate salary when applying for a new position.

– If you apply for a loan or credit, the pay slip is the document you must provide. The reason why banks and lending institutions impose this requirement is that payroll is considered a sure guarantee of your current and future financial capacity.

– Paycheck is a type of legal document. It is regulated by state agencies and financial institutions with specific regulations on format and content. You will need it when you face lawsuits or wage disputes with your employer.

– Thanks to your salary slip, you will know your income level and the amount of income tax you have to pay. It can be said that it helps you understand tax calculation and payment clearly. Thanks to this, you will not have to worry about breaking tax laws.

2.2- With the employer (employer)

For employees, the pay slip is proof of their income, but for employers, it is proof that they have paid their employees. At the same time, it clearly shows how much they pay their employees.

Preparing a payroll helps businesses accurately calculate how much they need to pay their employees and the associated taxes. Through this, they can better manage financial resources and ensure fairness and transparency in salary payments.

A pay slip is a legal document. This is of great importance in the event of salary disputes or complaints between employees and business owners. If related incidents occur, it will become important evidence to resolve the problem.

In addition, with a clear and detailed salary calculation sheet, the employer also shows that he has actually fulfilled his commitments in the employment contract. This helps them become a reputable employer as they always honor their commitments.

2.3- With human resources managers

By creating payroll, HR managers can effectively track and manage the amount paid to employees.

At the same time, they can also use it to calculate salary-related deductions such as social insurance, health insurance, personal income tax and other salary deductions.

2.4- With banks and credit institutions

Based on the information on pay slips, banks and credit institutions can evaluate and make decisions regarding employees’ loans or credit applications. This is also an important basis to help them decide whether or not to lend you money.

3- Information in the pay slip

The main content of the pay slip usually includes information related to your salary, information about the person paying the salary and the person receiving it.

State law provides only the most common standard format for employee payroll. Thus, each organization and company will design an appropriate and legal salary slip, according to its needs and characteristics.

Here is the main information that must appear on the pay slip:

– Employer information

This section usually includes information such as company name, logo, address, contact method, contact person. This is information proving that the salary was paid by a certain unit and providing the necessary information that employees can contact in case of errors or complaints regarding the amount paid.

– Salary beneficiary information

Includes all employee information, such as full name, employee code, CCCD number, address, telephone, position, working department.

You are not required to include all of the above information on your payslip. However, the pay slip must include the employee’s name and identification number. This ensures wages are paid accurately, to the right person, for the right job.

– Salary payment deadline, working time

This information indicates the pay period the company pays, the number of days the employee works during that pay period, and the number of days actual pay is received.

Based on the above information, HR can accurately calculate the amount to be paid and manage payroll time well.

– Base salary

This is the salary that the employee receives during the salary payment period. This amount will be calculated based on the employee’s base salary and total working time.

– Other income

Normally, in addition to salary, employees will receive additional allowances, allowances, bonuses, overtime, etc. The details of these amounts will depend on each company’s policy and the employment agreement between the employee and the company from the start.

– Salary deductions

These are deductions that are taken from the total salary before payment is made. These amounts generally include social insurance costs, health insurance costs, income taxes, and previously advanced employee wages.

The actual salary received by the employee during the pay period will be calculated by subtracting these deductions from the total salary.

– Total salary for the period (gross salary) and amount actually received (net salary)

Shows the amount of salary employees receive during the period and the actual amount they receive after deducting salary deductions.

– Payments

It specifies that workers will receive their salaries in cash or by bank transfer. It is also an important basis for the payment of salaries of organizations and businesses.

4- Pay slip form

Using the information in section 3, you can certainly design a standard payslip template yourself. However, if you still don’t know where to start, the following salary slip examples will be great suggestions for you.

4.1- Example of Vietnamese salary slip

Model 01

Company Name:…..

Address:….

PAYCHECK

Employee’s full name:….

Employee code:….

Title:….

Working parts:….

Salary payment deadline:….

Detailed salary scale:

STT	Criteria	Total (VND)
1	Number of working days
2	Normal working day
3	Income
3.1	Base salary
3.2	Overtime pay
3.3	Allocation
3.4	Other salary additions
	total
4	Payroll deductions
4.1	Compulsory insurance
4.2	Income tax
4.3	Advance
4.4	Other payroll deductions
	total
5	Food received

** Note:

For any questions, please contact….

Vote creator Recipient

(Sign, full name) (Sign, full name)

4.2- Example of salary slip in English

Model 02

Company name and address:….

Company details :…

PAYSLIP

Employee name:….

Employee number: ….

Position:….

Pay period:….

Detail:

No	Description	Amount (VND)
1	Actual work
2	Normal working day
3	Earings
3.1	Base salary
3.2	Over time
3.3	Allocation
3.4	Other
	Total
4	Deductions
4.1	Insurance
4.2	Tax
4.3	Deposit
4.4	Other
	Total
5	Net revenue

** Note:

This payslip is a summary of your salary for the pay period mentioned above.

Please contact HR if you have any questions or concerns.

Epilogue

From what Uptalent has shared, surely you understand the meaning of Payslip as well as the basic content needed in this document, right?

It is seen that it is an important legal document because of its ability to prove the income level of workers and their work. At the same time, it also shows the amount the company paid to its employees. This is proof of its practical value in the event of salary disputes or resolving employee complaints.

Hopefully Ms. Uptalent’s above sharing on what pay slip is has provided you with some useful information. At the same time, you can also effectively apply these elements to check payslips or design standard payslips. Good luck!