How to create Payslip or Salary Slip?

Payslips or Salary slips are documents issued by the employer to the employees, containing the detailed breakdown of an employee's earnings and deductions for a given salary period which can be weekly, bi-weekly, monthly etc. Employee Payslips are generally distributed either as hard copy by taking the print out or else are published through online portals called employee self service. An employer is legally obliged to provide payslip copy to every employee in his payroll.