A salary slip is crucial for the employees of a company. We can easily **create** a salary slip format with formulas in **Excel **sheets. Creating a salary slip format in **Excel **is an easy task. This is a time-saving task also. Today, in this article, weâ€™ll learn **three **quick and suitable steps to create a salary slip format in **Excel **sheet with formula effectively with appropriate illustrations.

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## Introduction to Salary Slip in Excel

The **Salary Slip** can also be called the **Pay Slip**. An employee receives a **Salary Slip**, which is a receipt created by the accountant rather than an employer, at the end of each month. It includes a thorough breakdown of all of the employeeâ€™s pay components, including **Company Name, Employeesâ€™ Name, Pay Slip Month, Bank Account Number, Identification Number, Basic Salary, Gross Salary, Allowances, Provident Fund, reimbursements, Bonus paid, TDS**, etc., as well as deductions for a given time period, typically a month. The employee may get it by mail or on paper. Wage slips are required by law to be provided to employees on a regular basis as evidence of salary payments and deductions. These templates make it easier for HR experts, HR executives, administrative personnel, etc. to produce wage slips in a short amount of time.

## 3 Quick Steps to Create Salary Slip Format with Formula in Excel Sheet

Letâ€™s assume we have an **Excel **large worksheet that contains the information about several **Employeesâ€™ salary statements** of **SOFTEKO Group**. The name of the **Employee,** the **Identification Number**, the **Basic Salary **of the **Employee**, and the **Medical, House Rent, **and **Transportation allowance, Provident Fund, **and **Income Tax deduction** are given in Columns **B, C, D**, **E, F, G, I** and **J **respectively. We will create a salary slip format in **Excel**. From our dataset, we can easily create a salary slip format of **SOFTEKO Group** in **Excel **by using the **mathematical formula**, **the SUM function**, and so on. Hereâ€™s an overview of the dataset for todayâ€™s task.

### Step 1: Create Dataset for Salary Slip Format

In this portion, we will insert the details of the employees of the **SOFTEKO Group **such as The name of the **Employee,** the **Identification Number**, the **Basic Salary **of the **Employee**, and the **Medical, House Rent, Transportation allowance, Provident Fund, Income Tax,** etc.

### Step 2: Calculate Gross Total Using Formula in Excel Sheet

In this step, we will make a salary slip format in Excel sheet to calculate the **Gross Total**. We will apply the **mathematical formula **and** the SUM function **to calculate the **Gross Total** of the **SOFTEKO Group. **We can easily do that. This is also a time-saving task. Letâ€™s say, the **Medical allowance** is **15%**, the **House rent** allowance is **35%**, and the **Transportation **allowance is **10%** of the **Basic salary** of an employee. Letâ€™s follow the instructions below to calculate the **Gross Total**!

- First of all, we will calculate the
**Medical allowance**of the employees which is**15%**of the**Basic salary.**To do that, firstly, select cell After that, write down**the Mathematical formula**in that cell.**The Mathematical formula**is,

`=D7*15%`

- Hence, simply press
**Enter**on your keyboard. As a result, you will get**Vinchantâ€™s Medical allowance**. The**Medical allowance**is**$11,221.20.**

- Further,
**AutoFill**the**Mathematical**formula to the rest of the cells in column**E**.

- Now, we will calculate the
**House rent allowance**of the employees which is**35%**of the**Basic salary.**To do that, firstly, select cell After that, write down**the Mathematical formula**in that cell.**The Mathematical formula**is,

`=D7*35%`

- Hence, simply press
**Enter**on your keyboard. As a result, you will get**Vinchantâ€™s House rent allowance**. The**House rent allowance**is**$26,182.80.**

- After that,
**AutoFill**the**Mathematical**formula to the rest of the cells in column**F**.

- Later, we will calculate the
**Transportation allowance**of the employees which is**10%**of the**Basic salary.**To do that, firstly, select cell After that, write down**the Mathematical formula**in that cell.**The Mathematical formula**is,

`=D7*10%`

- Hence, simply press
**Enter**on your keyboard. As a result, you will get**Vinchantâ€™s Transportation allowance**. The**Transportation allowance**is**$7,480.80.**

- After that,
**AutoFill**the**Mathematical**formula to the rest of the cells in column**G**.

- At last, we will be able to calculate the
**Gross Total**of the employees. The**Gross Total salary**is the summation of the**Basic salary**,**Medical, House Rent,**and**Transportation allowance.**To do that, we will apply**the SUM function**. Now, select cell**H7**and write down**the SUM function**in that cell.**The SUM function**is,

`=SUM(D7:G7)`

- Further, again, press
**Enter**on your keyboard. As a result, you will get**Vinchantâ€™s Gross Total salary**using**the SUM function**. The**Gross Total salary**is**$119,692.80.**

- After that,
**AutoFill**the**SUM function**to the rest of the cells in column**G**. - After completing the above process, you will be able to calculate the
**Gross Total salary**of the employees which has been given in the below screenshot.

**Read More: Per Day Salary Calculation Formula in Excel (2 Suitable Examples)**

### Step 3: Calculate Net Payable Value to Complete Salary Slip Format

Last but not the least, we will make a salary slip format in Excel sheet with formula to calculate the **Net Payable**. We will calculate the **Net Payable** of the employees of the **SOFTEKO Group. **The **Provident Fund **and **Income Tax** will be deducted from the Gross Total salary which is the **Net Payable **salary. Letâ€™s say, the **Provident Fund** is **20%**, and theÂ **Income Tax** deduction is **12%** of the **Basic salary** of an employee. Letâ€™s follow the instructions below to calculate the **Net Payable**!

- First of all, we will calculate the
**Provident Fund**of the employees which are**20%**of the**Basic salary.**To do that, firstly, select cell After that, write down**the Mathematical formula**in that cell.**The Mathematical formula**is,

`=D7*20%`

- Hence, again, press
**Enter**on your keyboard. As a result, you will get**Vinchantâ€™s Provident Fund**The**Provident Fund**balance is**$8,976.96.**

- Further,
**AutoFill**the**Mathematical**formula to the rest of the cells in column**I**.

- Similarly, calculate the
**Income Tax**of the employees which has been given in the below screenshot.

- Now, we will calculate the
**Net Payable**salary of the employees. To calculate it, write down the below**Mathematical**The**Mathematical**formula is,

`=H7-I7-J7`

- Where
**H7**is the**Gross total salary**,**I7**is the**Provident Fund**balance, and**J7**is the**Income Tax**of the employee.

- Hence, simply press
**Enter**on your keyboard. As a result, you will get**Vinchantâ€™s Net Payable salary**. The**Vinchantâ€™s Net Payable salary**is**$101,738.88.**

- Further,
**AutoFill**the**Mathematical**formula to the rest of the cells in column**K**. - Finally, you will be able to calculate the salary slip format in Excel which has been given in the below screenshot.

**Read More: How to Create a Monthly Salary Sheet Format in Excel (with Easy Steps)**

## Things to Remember

đź‘‰ **#N/A!** error arises when the formula or a function in the formula fails to find the referenced data.

đź‘‰ **#DIV/0!** error happens when a value is divided by **zero(0)** or the cell reference is blank.

## Conclusion

I hope all of the suitable methods mentioned above to **create a salary slip format in Excel with formula **will now provoke you to apply them in your **Excel** spreadsheets with more productivity. You are most welcome to feel free to comment if you have any questions or queries.