What is Payslip (Wage Slip)?
A payslip, or wage slip, is the monthly statement showing your pay components, deductions and net pay. The Code on Wages, 2019 requires employers to issue wage slips in the prescribed form on or before payment of wages. It is also the main proof of income for loans and visas.
Example
A payslip lists basic pay, allowances, employee PF, professional tax, TDS and net pay. Check that PF and TDS match your records and keep every slip.
Related
See in-hand salary, gross salary and Form 16.
Related terms and guides
Sources
- The Code on Wages, 2019, https://www.labour.gov.in/static/uploads/2025/06/c328da14bbb15fc4ad571dc33e7a4ab3.pdf, live official page, linked for readers; link checked 2026-10-31
- Ministry of Labour and Employment, Compliance Handbook for Employers under the Four Labour Codes, https://www.labour.gov.in/static/uploads/2026/02/83978455025732b99b0165def80ab171.pdf, live official page, linked for readers; link checked 2026-10-31
This is general information, not legal, tax or immigration advice. Rules change and your situation may differ. Consult a licensed attorney or qualified adviser.