Salary

Salary is the total amount of money paid by an employer to the employee periodically for the services he/she render. It is compensation that is mostly paid on monthly basis in Indian Payroll. The structure of a salary includes various components such as basic salary, CTC, gross salary, net pay or take-home salary, allowances, PF, Bonus, other benefits, etc. A salary is calculated after necessary deductions and additions. All the variables are paid to the employee as a part of his/her salary. Employees receive a document after the payment of salary every month that acts as proof and contains details about salary paid. The document is called a salary slip or payslip. It contains details of the total earnings and deductions of an employee calculated in a month.