Salary Certificate

Download Salary Certificate Formats - Word, Excel and PDF

Representative image for Salary Certificate format

Salary certificate is an essential document for working employees to be used for availing financial assistance from Banks. When employee approaches a bank for car loan or housing loan, bank first inquire about repayment capacity of borrower. The best source bank rely on Salary certificate, issued by head of the department the employee works.

Salaried Employees Should Know 6 Important Things Before Applying Bank Loan

Salaried Employees Should Know 6 Important Things Before Applying Bank Loan

After completing probation period, employee gets confirmation which will give pleasure and happiness to the life. The next step thinking to enhance life by adding facilities. It may be a new car or a new house or home appliances like home theater or something else. In normal case, most of the employees depend bank loan to meet their shortfalls of cash. Before going to bank for applying loan, following 6 important things to be checked whether you have met those points speeding up loan process:

Differences Between Salary Certificate and Salary Letter

Salary Certificate Fill-in-Form Image

Salaried employees must know the differences between Salary certificate and Salary letter. In most cases, salary certificate or salary letter come into picture when an employee thinks about how to overcome current or forthcoming financial crisis - personal debt, purchasing a car, buying a house are the common occasions. When you contact a financial institutions like bank, they give you a list of documents required for processing loan application. Some institution wanted salary certificate while others wanted salary letter. What are the main objectives and differences of these two documents - salary certificate and salary letter?

Sample Application for Employee Salary Certificate

Application for Salary Certificate

Salaried employees are offered loan by banks and other financial institutions where some documents to be submitted along with application for the loan scheme. Normally a wage slip also known as salary slip shows your present earnings and deductions, but in some occasions, financier asks to produce salary certificate.

TDS / Form 16 Certificate - The Proof Of Income Tax Payment Details And Sample Of An Employee

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Form 16 certificate also known as TDS certificate is a financial statement issued by an office of a salaried employee that contains earnings, deductions and “Income Tax" or "I-T” paid to the Government. This Form-16 certificate (TDS Certificate) must be issued to every employee who comes under “Tax Deducted at Source - TDS”, by his / her employer in the end of each financial year.

Frequently Asked Questions About (FAQ) Salary Certificate

Salary Certificate FAQ

FAQ-1. How Many Salary Certificates Issued to an Employee

Answer: Normally an employee is entitled to get Salary certificate once in a year. In some organization, it will be given upto 4 in each quarter year gap. It depends the policy of the company / organization, nothing else. Many financial institutions accepts Salary slip instead of Salary Certificate as a supporting document for loan application. In such cases employee can apply for 12 loan applications! This does not mean that employee will get loans from all those institutions.

Format of Salary Certificate and Sample Salary Certificate For Bank Loans

Image of Salary certificate template for bank loans

In most of the cases salary certificate issues without a format. Salary Certificate letter contains some necessary information related to an employee's salary break-up including the tenure. Generally, Salary certificate uses for submitting to financial institutions sanctioning loan request made by salaried employee. It will give a basic assessment of an employee's repayment capacity prior sanctioning loan amount.