Employee Salary Statement Certificate Templates

Companies and businesses are run by hundreds of employees working tirelessly day and night to achieve their desired goals. Employees are hired for their efforts and services and are paid by the employer. Every employee is paid based on the services they provide to the company.

An employee salary statement certificate refers to the official document provided by the employer as proof of salary. It entails basic pay and all the deductions that are made to evaluate the gross salary of the employee. Every employee in a company is entitled to a salary statement certificate every month. These certificates find their applications for various purposes, i.e., while applying for a loan or buying a house on a mortgage.

Salary certificates are awarded to each employee to assist them in their financial services, despite their job. It makes it easier to apply for a loan because banks require a statement of salary as proof that the individual would be able to pay back the entire loan in installments. Thus, these certificates are used as proof of having a stable job that pays to wipe off the loan.

Wondering what to add to the certificate?

The contents of salary certificates differ from one company to another, but these differences are very minor because the pattern of deductions and net salary followed by the maximum number of companies is similar.

Generally, the following information is provided on the salary statement certificate:

Basic information: it provides basic information about the employee, i.e., name, department, rank, job description, and office number for contact.
Company: information about the company, like its name, address, and contact details, is mentioned on every employee’s salary statement certificate.
Basic pay refers to the actual salary of an employee without any deductions; therefore, it is termed basic pay.
Deductions: deductions include all parts of loans, i.e., house, car, medical or personal allowances, taxes, and insurance that an employee has to cover. These deductions also include a cut for the endowment fund.
Net pay refers to the gross salary that the employee receives and uses after all the deductions have been made.
Period: it refers to the month of the year for which a salary statement certificate is generated for the employee.
Miscellaneous: salary certificates may also include information about the bonus that employees receive on festivals, celebrations, etc. If any employee works overtime or assists with extra projects, then the related salary is included in the statement.

It is an important document

A salary statement for employees is considered significant for the following reasons:

It acts as proof for both employee and employer that their salary for the month has been paid.
It can be used as proof for claiming, i.e., if unnecessary deductions are made or bonuses are not added to the salary.
While filing for a loan, the bank requires a salary statement certificate as proof of loan payback.
Furthermore, these certificates can be organized in tandem to calculate funds or make a budget.
While claiming an employee endowment fund, total dues can be cleared from these certificates.
If a company gives you a loan for a house or car, it is directly deducted from your salary, giving you relief from filing for bank loans.

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