Download a free salary slip format in Excel that follows the Form V wage slip under the Code on Wages (Central) Rules, 2026. It is a single one-page payslip: type the company, employee and salary details on the slip itself and it works out the rest:
- earned pay after loss of pay (LOP);
- PF and ESI on labour-code wages (Basic + DA, at least 50% of pay);
- gross earnings, total deductions and net pay;
- net pay in words.
Print it or save it as a PDF to email it. No macros, no sign-up.
Download: salary slip format Excel (Form V, 2026, one-page payslip with auto PF/ESI)
Download Salary Slip Excel (.xlsx)Preview in Google Drive
File: Salary-Slip-Format-Excel-2026-HRCalcy.xlsx (Excel, about 14 KB, no macros). Free, no sign-up, hosted on Google Drive. Works in Microsoft Excel, Google Sheets and LibreOffice. In Google Sheets, use File → Make a copy before editing. Need one slip quickly? Use the online salary slip generator, which also downloads a PDF.
Sample Salary Slip (From the Excel)
This is the slip the download prints with its example values, for October 2026 (31 days, 1 LOP day).
| ABC Private Limited · Salary Slip (Wage Slip – Form V) for October 2026 | |||
|---|---|---|---|
| Employee name | Asha Verma | Employee ID | HRC001 |
| Father's/Mother's/Spouse name | Ramesh Verma | Designation | Senior Executive |
| UAN | 101234567890 | Bank account | State Bank of India XXXXXXX4521 |
| Wage period | 01-10-2026 to 31-10-2026 | Date of issue | 07-11-2026 |
| Days in month | 31 | Paid days / LOP days | 30 / 1 |
| Earnings | Rate · Earned (₹) | Deductions | Amount (₹) |
| Basic | 22,500 · 21,774 | Provident Fund (PF) | 2,613 |
| HRA | 9,000 · 8,710 | ESI | 0 |
| Conveyance | 1,600 · 1,548 | Professional tax | 200 |
| Special allowance | 11,900 · 11,516 | Income tax (TDS) | 1,500 |
| Gross earnings | 45,000 · 43,548 | Total deductions | 4,313 |
| Net pay | ₹39,235 (Rupees Thirty Nine Thousand Two Hundred Thirty Five Only) | ||
All names and numbers are examples. Type your own over them on the slip.
What the Payslip Excel Does
- One sheet, one A4 page: the payslip you fill in is the payslip you print.
- Blue text = your entries: company name and address, employee details, salary month, date of issue, LOP days, the full-month rate of Basic, DA, HRA, conveyance, special and other allowance, overtime, bonus, professional tax, LWF, TDS, advance and other deductions.
- Calculated for you: wage period, days in month, paid days, earned amount of each component, PF, ESI, gross earnings, total deductions, net pay and net pay in words (lakh and crore style).
- Options beside the slip (not printed): PF applicable, PF on capped wages, ESI covered (Auto, Yes, No) and ESI wage base, with the PF wages and ESI wages workings and the rules used.
- Checks: a warning on the slip if deductions exceed 50% of gross.
How to Use It
- Download the file and open it in Excel, Google Sheets or LibreOffice.
- Type over the blue text with your company, employee and salary details. Enter the full-month rate of each pay component and the LOP days; the earned amounts update by themselves.
- Choose the per-day basis your payroll uses (calendar days, 30 or 26), and set the PF and ESI options beside the slip.
- Enter professional tax, LWF, TDS and any advance or other deduction.
- Check the slip, then use File → Print → Save as PDF. For the next employee or month, type over the details again and save a new PDF.
Salary Slip Format as per Form V (Code on Wages 2026)
Section 50 of the Code on Wages, 2019 requires every employer to give wage slips. Rule 52 of the Code on Wages (Central) Rules, 2026 (G.S.R. 343(E), 8 May 2026) sets the format as Form V. The slip must be issued on or before the day wages are paid, on paper or electronically.
| Form V item | Where it is in the Excel |
|---|---|
| Date of issue, name and address of the establishment, period | Top of the slip and Date of issue |
| Name of employee, father's/mother's/spouse name, designation | Employee details block |
| UAN and bank account number | Employee details block |
| Wage period | Worked out from the salary month |
| Rate of wages payable (Basic, DA, allowances) | "Rate (full month)" column on the slip |
| Total attendance / unit of work done | Days in month, paid days and LOP days |
| Overtime wages | Overtime wages row under Earnings |
| Gross wages payable | Gross earnings (earned) |
| Total deductions (PF, ESI, others) | PF and ESI worked out; professional tax, LWF, TDS, advance and other entered |
| Net wages paid | Net pay, in figures and in words |
| Signature of employer / pay-in-charge | Signature line at the foot of the slip |
The slip also shows department, joining date, ESI IP number and PAN, which payroll teams usually add. States can prescribe their own forms under their rules, so check your State's format if you are covered by State rules.
How the Excel Calculates Salary
| Item | Rule used |
|---|---|
| Per-day basis | Calendar days of the month (default), 30 or 26 |
| PF wages | Labour-code wage rule: Basic + DA, raised to 50% of total pay when Basic + DA is lower. Bonus or incentive is left out. |
| Employee PF | 12% of PF wages; with "PF on capped wages" = Yes, wages are limited to the ₹25,000 ceiling (from 17 September 2026), so at most ₹3,000. Rounded to the rupee. See the PF calculator. |
| ESI coverage | Auto: covered when the full-month ESI wage is ₹21,000 or less (₹25,000 for persons with disability; choose Yes for them). Choose Yes for an employee whose pay rose during a contribution period (April–September or October–March). |
| Employee ESI | 0.75% of ESI wages, rounded up; no employee share when average daily wage is ₹176 or less. See the ESI calculator. |
| Professional tax, LWF | Entered by you, as they depend on the State. Use the professional tax calculator and the LWF calculator. |
| TDS | Entered by you from the annual tax projection. Use the TDS on salary calculator. |
| 50% check | Flags a slip where total deductions exceed 50% of gross (Section 18(3), Code on Wages) |
| Net pay in words | Built with standard formulas (no macros), in lakh and crore style |
Why two ESI wage bases? The Code on Social Security came into force on 21 November 2025 with one definition of wages. In December 2025, ESIC offices advised employers to use it for ESI. ESIC then said on 18 December 2025 that compliance depends on the notified rules. As a result, some payrolls use labour-code wages and many still use gross wages. Choose the one your ESIC challan uses in the options beside the slip; the default is labour-code wages.
Worked Examples: October 2026
Asha's values are filled in the download. Type in Rohit's or Neha's figures to see the labour-code rule change PF and ESI.
| Item (₹) | Asha | Rohit | Neha |
|---|---|---|---|
| Monthly gross (rate) | 45,000 | 18,000 | 26,000 |
| Basic + DA (rate) | 22,500 | 9,000 | 10,000 |
| LOP days / paid days | 1 / 30 | 0 / 31 | 2 / 29 |
| Overtime | 0 | 1,200 | 0 |
| Gross earned | 43,548 | 19,200 | 24,323 |
| PF wages | 21,774 (Basic) | 9,600 (50% of 19,200) | 12,162 (50% of 24,323) |
| PF (12%) | 2,613 | 1,152 | 1,459 |
| ESI (0.75%) | 0 (not covered) | 72 | 92 |
| PT / TDS / advance | 200 / 1,500 / 0 | 0 / 0 / 0 | 200 / 0 / 1,000 |
| Total deductions | 4,313 | 1,224 | 2,751 |
| Net pay | 39,235 | 17,976 | 21,572 |
Rohit and Neha show the labour-code rule at work. Their Basic is below half of pay, so PF is worked out on 50% of pay, not on Basic alone. Switching the ESI base to gross wages changes Rohit's ESI to ₹144 (0.75% of ₹19,200). Under that base, Neha's ₹26,000 gross would be above the ₹21,000 limit.
Excel, PDF, Word or Online Generator?
| Format | Best for |
|---|---|
| Excel (this download) | Making payslips on a computer with your own layout and formulas that update; keep the file as your template |
| Sending the slip to the employee. Save each slip from Excel as PDF so it cannot be edited. | |
| Google Sheets | Working online or sharing with an accountant; open the Drive link and make a copy |
| Online generator | One slip quickly on any device, with PDF download |
Employees who want to understand each line of their payslip can read salary slip explained. To build the monthly structure from CTC, use the salary breakup calculator. For day-wise attendance and paid days, use the monthly attendance sheet in Excel.
Rules for Salary and Salary Slips in India (2026)
| Rule | What it says |
|---|---|
| Wage slip | Form V, on or before payment of wages, paper or electronic (Section 50; Rule 52) |
| When to pay monthly wages | Before the end of the 7th day of the following month (Section 17) |
| On resignation, removal, dismissal or retrenchment | Final wages within 2 working days (Section 17(2)). See full and final settlement. |
| Deductions | Total deductions in a wage period generally cannot exceed 50% of wages (Section 18(3)) |
| Overtime | At least twice the normal rate of wages (Section 14). See the overtime calculator. |
| Registers | Wage register (Form IV) and others kept for 5 years after the last entry (Rule 51) |
| Annual tax statement | Form 16 (Form 130 from tax year 2026-27) once a year; see the Form 16 guide |
Issue slips only for wages actually paid. Making a slip for income that was not received, or in an organisation's name without its authority, is forgery.
Common Salary Slip Mistakes
- PF on Basic only: under the labour codes, PF wages cannot be less than 50% of total pay. Low Basic and high allowances no longer reduce PF.
- Dropping ESI mid-period: an employee covered at the start of April or October stays covered until the period ends, even after a raise.
- Wrong LOP basis: dividing by 30 in one month and calendar days in another gives inconsistent pay. Pick one basis and keep it.
- Deductions above 50%: recover large advances over several months.
- Missing UAN or wrong bank details: the slip is the employee's main pay record, so check these every time someone joins.
- Slip after payment: the slip is due on or before the payment date, not weeks later.
Frequently Asked Questions
Is this salary slip format Excel free?
Yes. It is free to download and use, with no sign-up and no macros. It opens in Microsoft Excel, Google Sheets and LibreOffice.
Is a salary slip mandatory in India?
Yes. Section 50 of the Code on Wages, 2019 requires employers to issue wage slips, and Rule 52 of the Code on Wages (Central) Rules, 2026 prescribes Form V, issued on or before the day wages are paid, on paper or electronically.
What details must a salary slip have?
Form V asks for the establishment name and address, period, date of issue, employee name, father's/mother's/spouse name, designation, UAN, bank account, wage period, rates of wages, attendance, overtime, gross wages, deductions (PF, ESI, others), net wages and the employer's signature.
How is PF calculated in this salary slip?
PF wages are Basic + DA, but not less than 50% of total pay (fixed earned pay + overtime), as the labour codes require. Employee PF is 12% of PF wages, limited to the ₹25,000 ceiling if you choose capped wages, so at most ₹3,000 a month.
How is ESI calculated?
ESI applies when the full-month ESI wage is ₹21,000 or less. The employee pays 0.75% of ESI wages, rounded up, with no employee share if average daily wage is ₹176 or less. You can choose labour-code wages or gross wages as the base.
How does the Excel handle loss of pay?
Enter the LOP days on the slip. Each component is reduced by its rate ÷ basis × LOP days, where the basis is calendar days, 30 or 26, as you choose on the slip.
Can I make salary slips for more than one employee?
Yes. Fill the slip for one employee and save it as PDF, then type the next employee's details over it and save again. Keep the blank file as your template.
How do I save the salary slip as PDF?
Use File → Print and choose Save as PDF (or Microsoft Print to PDF). The slip is set to one A4 page; the options and notes beside it do not print. In Google Sheets, use File → Download → PDF.
Can employees make their own salary slip with this?
No. A salary slip is issued by the employer for wages actually paid. Making a slip for income not received, or in an organisation's name without its authority, is forgery. Employees should ask HR or download slips from the payroll portal.
How long should salary records be kept?
Registers under the Code on Wages (Central) Rules, 2026 are kept for 5 years after the last entry. Keep the PDF slips for the same period.