In the same vein, the employer equally contributes to the plan on their employees' behalf, as explained above.

EPF: The Employee Provident Fund is a retirement savings plan into which workers of a company make monthly contributions equal to a modest percentage of their basic salary.

Essentially, it is a kind of risk management that is mainly used to protect against the possibility of a future or unknown loss.

Insurance: An insurance policy is a method of protecting yourself against financial loss.

As the name implies, Leave Travel Allowance refers to an employee's allowance while travelling with their family or by themselves. It is a tax break provided by a company to its workers.

LTA: Leave Travel Allowance is one of the most effective tax-saving measures available that can benefit Employees.

HRA: House Rent Allowance is a compensation component given by employers to workers to cover the cost of renting a property for residential reasons.

It can include tasks beyond their regular working hours and beyond the agreed-upon time frame.

Overtime: When an employee works extra hours, this is known as overtime.

Bonus: A bonus is the sum of money added to a person's wages to reward outstanding performance.

It excludes dividends, benefits, overtime pay, or any other potential reward from an employer. The total amount comprises the take-home pay. It includes the amount an employee receives before any extras are added or payments deducted.

Basic Salary: Basic salary is the amount of money agreed upon by an employer and employee.

It contains employee details and payslip details Salary Content Earnings examples: The header section can have the details contains title, company name and company address Employee / Payslip Info

Future group employee salary slip