What is a payroll slip?
A payroll slip is more commonly known as a salary slip. It is a document that contains a detailed description of the salary-related information and is issued by the employer to his employees. A typical payroll slip will contain information about the payment made to the employee, the LTA, the HRA and the bonuses paid (if any) along with a mention of any statuary deductions and the salary when it is being paid. It can be given to the employee either in the form of a written hard copy document or it can be directly mailed to him/her.
Why is payroll slip hong kong important?
- A salary slip or a payroll slip is essential for the overall income tax calculation. It forms the basis for the determination of the money that needs to be paid in income taxes.
- It opens routes to all kinds of medical benefits provided by the government along with subsidised food rates and other such facilities for the employees.
- It can help an employee to choose their own employer. The employees can essentially compare their previous payroll slip hong kongwith the offers that they are provided with new employers. This can help them to choose a better option while getting a new job.
Lastly, the payroll slip can be held as a strong proof of employment during formal procedures like that of getting a visa for international studies or travelling to other countries.