Salary slip format in India: what Form V asks for
A wage slip is no longer a courtesy. Section 50(3) of the Code on Wages, 2019, in force since 21 November 2025, makes it a duty. The Code on Wages (Central) Rules, 2026 were notified on 8 May 2026, and rule 52 says every employer must give each employee a wage slip in Form V, on paper or electronically, on or before the day wages are paid.
This guide is written for employers and the people who run payroll for them.
What Form V asks for
The top of the slip shows the date of issue, the name and address of the establishment, and the period it covers. Below that, these items:
| Form V item | What to enter |
|---|---|
| Employee's name | As on your payroll records |
| Father's, mother's or spouse's name | One name is enough. Many older payslip templates leave this out |
| Designation | The job title |
| UAN | The 12-digit PF number, if the employee has one |
| Bank account number | The account the wages are paid into |
| Wage period | For example, October 2026 |
| Rates of wages | Basic, dearness allowance and other allowances, shown separately |
| Attendance or work done | Days present, or units of work for piece-rate staff |
| Overtime wages | On its own line, never folded into another allowance |
| Gross wages payable | The total before deductions |
| Deductions | PF, ESI and others, shown separately |
| Net wages paid | What actually reached the employee |
If you keep your registers on paper, the employer or the person in charge of pay signs the slip.
A worked example
Take an employee on a total of ₹20,000 for the month, with no overtime.
| Line | Amount |
|---|---|
| Basic | ₹11,000 |
| House rent allowance | ₹5,000 |
| Other allowances | ₹4,000 |
| Gross wages | ₹20,000 |
| PF, 12% of ₹11,000 | ₹1,320 |
| ESI, 0.75% of ₹20,000 | ₹150 |
| Net wages paid | ₹18,530 |
ESI applies here because the gross is within the ₹21,000 monthly limit. The PF wage limit is ₹25,000 a month, following the central notification of 17 September 2026. Professional tax is left out because it depends on your state.
The 50 percent rule
The Code counts basic pay, dearness allowance and retaining allowance as wages. If the other allowances add up to more than half of total pay, the extra is added back into wages. In the example above, the allowances are ₹9,000 out of ₹20,000, which is under half, so nothing is added back. A structure with a very low basic and large allowances does not get around this, and it can change your PF and gratuity figures. Ask your accountant to check your structure once.
Mistakes that keep turning up
- Giving the slip after payday. The rule says on or before payment.
- Leaving out attendance. A slip that shows only money cannot explain a short month.
- Hiding overtime inside "other allowances". Form V gives it a separate place.
- Only one deductions total. PF and ESI each need their own figure.
- Sending a slip and keeping no copy. Keep each slip with your wage register.
Which rules apply to you
The Central Rules cover establishments where the central government is the appropriate government. Most private businesses come under their state, and states have been publishing their own final rules through 2026, with their own rule numbers. The content is broadly the same, but check your state's final rules or ask your labour consultant.
Use real figures only
A wage slip records wages that were actually paid. Issue slips only to your own staff, with true figures. Making one for someone who is not on your payroll, or changing the figures, is forgery. DeskKit is built for employers and is not for that use.
Sources
- Code on Wages, 2019, section 50(3)
- Code on Wages (Central) Rules, 2026, G.S.R. 343(E), 8 May 2026, rule 52 and Form V. We took the field list from published compliance summaries that agree with each other, so check it against the gazette copy for anything formal
- PF wage limit: S.O. 5109(E), 17 September 2026
This is general information, not legal or tax advice. Rules differ by state and change over time.
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