It is always better to know the different salary terms provided in the salary slip as it will give you an idea about how your salary and related terms like taxes, insurance, leave are calculated and how these impact your current salary and current deductions.

Generally, salary slip contains employee and employer particulars, gross and net salary, leave, taxes paid to federal and state government, insurance amounts, withholding of the taxes for that particular month and year-to-date information about salary, taxes, insurance and leave.

Our salary slip example is based on the assumption that an employee 'X' is working as a permanent employee and his yearly salary is $60,000/-. X would be getting 2 pay slips per month and his bimonthly salary is $2,500.

Salary Disbursement