Salary calculation is easier until you get to calculate some complex details such as regular hours of the employee and the number of overtime hours. Some organizations also pay the employee on the basis of ‘’time in’’ and ‘’time out’’.
What is the net salary calculator?
No matter either you are self-employed or an employee of a reputed company or organization, it’s one of your prime responsibilities to pay your taxes on time. After withholding of tax, the employer should release the paychecks to their workers and staff of the office. People, especially those who are running small firms have to face the problem that how to calculate such amount and keep the record.
The net salary calculator template is convenient and automates away, which facilities in the calculation of salaries. The employer has to calculate the tax and also deduct this value from the gross value. It also provides the facility to the employer to declare the other sources of income and you are supposed to pay taxes on the net income which you earn from all possible sources.
Why there is a need to use the salary calculator?
The salary calculation tools are very convenient for every organization regardless of the size. When there are a lot of employees working in an organization, the organization needs to calculate the salary of each employee accurately and in time. ‘The calculator simplifies the process of salary calculation and also helps the organization calculate everything related to the salaries such as overtime.
Details Mentioned on the Templates:
We aim to design the net salary calculator template in the most efficient way. Hence, we leave no stone unturned in adding all the mandatory fields and options in it along with the proper identity of the company such as company name and its logo. Now you can maintain the deduction and pay records. The additional information required is:
- Taxable amount
- Gross pay of an employee which is calculated before deduction
- Taxable benefits & expenses
- All statutory payments made
Net Salary Calculator Template in Excel Format:
The companies should be well aware and up to date about the net salary calculator to enjoy the benefits. Few features of the template are
- EXCEL format: Fill all the details regarding the tax and gross pay in the Microsoft Excel sheet.
- Printable feature: Print after you fill all the details
- Multiple uses: Use for as many people as you want.
- Professional design: The template has professional features that can be adopted by any company. It has all important fields which help in payroll calculation.
- Customization: Completely customizable template with all necessary details.
Salary calculator template:
The salary calculator template is a dynamic spreadsheet document that allows the user to specify the date and month along with the hourly rates on the grounds of which, salary will be calculated. The best thing about the template is that you can use it conveniently without having to wait so long for it to respond to your request for calculation.
As soon as you specify the hourly rates along with the time in and time out details, the calculator template calculates the salary immediately. The template also accommodates those organizations that also accept the employee’s work on weekends. The work done on weekend is considered as overtime work and extra salary.
What are the key features of the template?
There is a number of features that are provided by this template. Due to these features, the template is highly useable.
- There are drop-down menus in the template in which the user can get many options to choose from
- The pre-defined formulas in the template perform the calculations automatically and quickly as soon as the required fields in the template are filled.
- Not only for weekends, monthly and bimonthly salaries of the employees can also be calculated by the template easily
- The template is capable of calculating the salaries of multiple employees at a time. All you need to do is make multiple sheets in the template