A salary receipt is a type of business receipt also known as a salary slip. It is an official receipt issued to an employee in exchange for their service in the company. This piece of paper contains the employee payroll details, including the deducted tax and other insurance for payroll verification. It can also be mailed to the employee or printed in a hard copy. Employees can download them in a PDF format and use them to compute their monthly budget. Hence, the document is proof of the salary payments made from the payroll transition and process.
Most people find a salary receipt essential only when applying for a loan or a new credit card. Thus, an employer should understand the vital components of a salary receipt. Aside from that, it can provide a legal basis for their payment transaction; employees can also be confident using their salary receipts for important and personal financial transactions. So, for employers, this is the perfect time for you to know and learn the steps in crafting a comprehensive and professional-looking salary receipt.
Before printing or finalizing your receipt, you need to recheck its content. It is to avoid any miscalculations in the computation that the recipient will point out. There are some circumstances in which even the details of personal information will be questionable. So, always proofread and recheck them.
Understanding the importance of a salary receipt will help both the employer and the employee. It is not only a document to prove employment but can also strengthen the trust between the two parties through transparency. Moreover, it also helps in filing income tax returns, applying for mortgages and loans, and negotiating salary hikes when applying for a new job.
Being an employer of any service makes you accountable for all sorts of paperwork that needs to be done for your employees whether it is a blue-collar or white-collar job. Using a good driver salary slip format will save a lot of headache later on for the employer.
It is important to have a well-planned salary format beforehand when recruiting any employee for the future. Salary slip help in keeping a track record of the expenses and monitor the monthly wages. Payslip will also help the employee to choose smartly while switching jobs in different companies and compare the salary offers. In that way, a person can negotiate and can make a wise choice of financial earning.
Here is an editable word version of the driver salary slip which you can use this editable version if you wish to make any edits, or even pre-fill the vehicle, driver name, month, salary amount, etc. Finally, take a printout to get the driver and your signatures.
Having a monthly salary slip will be beneficial to the employer as well as the employee to keep track on the financial expenditure. Here are the few important components necessary to make a monthly salary slip:
Though it is not compulsory, unauthorized leaves might result in deduction of money from salary which needs to be mentioned in the salary slip. It will help the employer to make sure there is no discrepancy from each side.
In India, most of the employees are just focused on getting their money into their pockets. They ignore the importance of having a salary slip. But it is still wise to provide a salary slip for various reasons:
This is a professional record-keeping method. Later on, there will be no question of I got lesser money than agreed, or I did not get my wages for two months, etc. You will be able to refer to the receipts to show how much was paid as salary for which month quite easily.
It becomes the basis of Income-tax calculation. If you are part of a company reimbursing you for the salary paid to the driver then this is your proof of making this payment. Also if you are claiming tax deductions on paying for the driver, then these receipts are important.
Having a salary slip gives your driver access to various free or subsidized facilities provided by the government such as healthcare, medical aid, subsidized food grains, etc. It acts as proof of employment which makes it easier for them to avail all the facilities.
Having a salary slip will act as proof of employment so, when a driver will switch from one job to another or in the same job, it will help him to negotiate a salary hike with his employer. This is useful for both the employee and the employer as it acts as a piece of evidence.
This document can be very useful to the driver in a number of ways. If they are applying for a loan, or for a part-time course, etc. Plus it gives them a feeling of satisfaction to be getting a receipt of some kind for the good work they have done.
Follow these steps and stages in creating a driver salary slip format in excel. You are welcome to download the workbook and use it for your own practice. If you have any questions, concerns, or suggestions, please leave them in the comments section of our blog ExcelDemy.
Sometimes, employees will present a "receipt" in place of a List A, B, or C document. An acceptable receipt is valid for a short period of time so you can complete Section 2 or Section 3 (reverification) of Form I-9, Employment Eligibility Verification. You cannot accept receipts if employment will last less than 3 days.
Because the latest increase was implemented very recently, some positions' salary averages we found may not reflect the new minimum just yet, as the self-reported data we looked at spans the past few years.
Payscale data shows that deli clerks also earn about $14 an hour. Additionally, Glassdoor data shows that meat cutters are paid an average annual salary of $37,562. Previous reporting from Business Insider's Courtney Leiva shows that several professional chefs opt to use Costco meat.
Supervisors oversee many of the other Costco positions listed, including cashiers and stockers. Additionally, Glassdoor data shows that area managers earn an annual salary of about $70,000 while merchandising managers earn over $73,000.
This is one of the most common questions for considering a change from the company driver to an owner-operator business. The average owner-operator base income is nearly $144,000 according to Indeed.com. But this varies widely depending on experience, the type of loads a driver will specialize in and carry, and how much time they spend on the road.
Considering all these things, how much does an owner-operator truck driver make at the end of the day? Again, to make the most money, increase your income, and reduce expenses. The first step is to maximize your money, which you should outline in your trucking business plan. Here are some money-maximizing ideas:
When starting a trucking business, drivers may opt to buy their equipment outright, get a small business loan, or enter into a leasing agreement. Options include a lease, a lease-purchase, and a lease-on agreement.
Also known as lease-to-own, this allows an owner-operator to pay a monthly fee to a carrier or fleet provider for use. At the end of the agreement, the driver can buy the truck, with a portion of the payments going towards the purchase price.
In case you have the same situation but the car is owned by company and also the driver is provided by the company, here is how things change. The company can now reimburse both the driver salary and running expenses fully tax exempted. But it would add Rs 1,800 per month for car less than 1600 CC (Rs 2,400 per month for bigger car) along with Rs 900 per month for driver salary as perquisite. This perk is added to the income and taxed accordingly.
As you can see the presence of above tax free salary components can easily lower your annual taxable income by Rs 1.3 lakhs. This means annual saving of Rs 6,500 for person in lowest tax bracket and Rs 40,000 for person in highest tax bracket.
As you can see with the above income tax calculation, salary components and salary structure plays a very important role in how much income tax you pay. We have come up with some optimised salary structure using which you pay NO income tax even with CTC of more than Rs 20 Lakhs.
Delivery truck drivers and driver/sales workers have a physically demanding job. Driving a truck for long periods can be tiring. When loading and unloading cargo, drivers do a lot of lifting, carrying, and walking.
About 219,900 openings for delivery truck drivers and driver/sales workers are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Delivery truck drivers and driver/sales workers pick up, transport, and drop off packages and small shipments within a local region or urban area. They drive trucks weighing less than 26,001 pounds total for vehicle, passengers, and cargo. Delivery truck drivers usually transport merchandise from a distribution center to businesses and households.
Some driver/sales workers use their own vehicles to deliver goods to customers, such as takeout food, and accept payment for those goods. Freelance or independent driver/sales workers may use smartphone apps to find specific delivery jobs.
Light truck drivers, often called pickup and delivery or P&D drivers, are the most common type of delivery driver. They drive small trucks or vans from distribution centers to delivery locations. Drivers make deliveries based on a set schedule. Some drivers stop at the distribution center once only, in the morning, and make many stops throughout the day. Others make multiple trips between the distribution center and delivery locations. Some drivers make deliveries from a retail location to customers.
Delivery truck drivers and driver/sales workers have physically demanding jobs. When loading and unloading cargo, drivers do a lot of lifting, carrying, and walking. Driving in congested traffic or adhering to strict delivery timelines can also be stressful.
Light truck drivers have one of the highest rates of injuries and illnesses of all occupations. Injuries can result from workers lifting and moving heavy objects, as well as from automobile accidents. 2b1af7f3a8