A salary slip, also known as a payslip or a salary receipt in certain organizations, is provided to employees to brief them of their monthly pay and allowances. Salary slip is an important legal document that every employee is designated to receive from their respective employers. It serves as a proof and detailed statement of your monthly earnings, allowances and deductions.
A salary slip can also be used for different purposes, such as an information document for a bank loan and mortgage to ensure banks that one is financially stable to pay it back. The credit limit also granted on basis of individual's salary slip.