In this Tutorial you will learn how to make salary slip or salary sheet in excel 2016, also you will be able how to make payroll system in excel for employees.
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Pay Head in Payroll are given bellow
DA
The Dearness Allowance (DA) is a cost of living adjustment allowance paid to Government employees, Public sector employees (PSU)and pensioners. Dearness Allowance is calculated as a percentage of basic salary to mitigate the impact of inflation on people.
EPF/PF
The Employee Provident Fund, or provident fund as it is normally referred to, is a retirement benefit scheme that is available to salaried employees. Under this scheme, a stipulated amount (currently 12%) is deducted from the employee's salary and contributed towards the fund.
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Use the following formulas in Payslip or Payroll
DA formula = basic salary * 10/100
House Rent = Basic Salary * 8/100
PF = Basic Salary * 12/100
Gross Salary =Basic salary + DA + House Rent + PF
EPF = PF / 2
LIC = EPF/2
Deduction = EPF + LIC
Net salary = Gross Salary - Deduction
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