Most salary slip formats you can download are either an empty layout or sit behind an email form. This one is free, opens straight away, and calculates: put in the full-month salary and the days, and it works out what was earned, every deduction and the net pay.
⬇ Download: Salary slip format in Excel (.xlsx, free)What the slip calculates
- Earned pay for the days actually paid, so loss-of-pay (LOP) days reduce every component in proportion.
- Employee PF at 12% of basic + DA, either on actual pay or on the ₹15,000 wage ceiling (a Yes/No switch).
- ESI at 0.75% when the full-month gross is ₹21,000 or less, rounded up to the next rupee, as ESIC does.
- Professional tax and TDS as inputs, plus any advance or loan recovery.
- The employer's side: pension (EPS) at 8.33% of up to ₹15,000, the employer's EPF share, and employer ESI at 3.25%.
How to fill it
- Company name, address and month at the top; the employee's name, ID, PAN and UAN on the left.
- Days in the month and LOP days; the slip works out the paid days.
- The FULL-month amounts for basic, DA, HRA and allowances. Bonus or arrears go in their own row and are not prorated.
- Your state's professional tax for the month and the TDS from your tax working.
The formulas that do the work
Salary slip formulas in Excel
Paid days: =D5-D6
Earned basic: =ROUND(B13*$D$7/$D$5,0)
Employee PF: =ROUND(12%*IF($D$8="Yes",MIN(D13+D14,15000),D13+D14),0)
ESI (employee): =IF(SUM(B13:B17)<=21000,ROUNDUP(D19*0.75%,0),0)
Net pay: =D19-D27
Pension (EPS): =ROUND(8.33%*MIN(D13+D14,15000),0)
Three things to check before you use it
- Professional tax depends on your state and cannot be more than ₹2,500 a year in total. Enter your state's monthly figure.
- Many employers pay PF on actual basic rather than the ₹15,000 ceiling. Set the switch to match your appointment letter.
- TDS is an input, not a calculation. Work out the year's tax first, then spread it over the remaining months.
Frequently asked questions
- How is PF calculated on a salary slip?
- Employee PF is 12% of basic + DA. Employers either pay it on the actual figure or cap it at the ₹15,000 wage ceiling, which makes it ₹1,800 a month. The employer adds its own 12%, of which 8.33% of up to ₹15,000 goes to the pension scheme (EPS) and the rest to EPF.
- When is ESI deducted from salary?
- When the monthly gross is ₹21,000 or less. The employee pays 0.75% and the employer 3.25% of gross, each rounded up to the next rupee.
- How is loss of pay calculated in a salary slip?
- Each component is paid in proportion to the days worked: full-month amount × paid days ÷ days in the month. The sheet does this for every earning row.