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Financial institutions determine the loan repayment capability according to the payslip.

Document for financial assistance – When you apply for a credit card, personal loan, salary account, bank account, insurance or any other financial requirement, the salary slip is a mandatory document.

It is legal proof while applying for a university or visa.

Proof of Employment – It acts as proof that the individual has a job and is getting paid as per the details mentioned in a salary slip.

Apart from this, there are other important benefits with a salary slip or payslip like,

A salary slip is also known as payslip and is considered an important document because it acts as a proof of the salary which can be used on various occasions like at banks while applying for a personal loan, bank account, etc.Ī salary slip is proof of the income that an employer is paying the employee. It gives details of the salary given along with different components of the salary.

Salary Slip is an important document provided by an employer to the employees.