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In this tutorial, we will learn how to create a salary sheet or payroll in Excel by first creating pay heads for different components like basic salary, DA, HRA, PF, EPF, and LIC. We need to enter employee data such as serial number, name, designation, and basic salary. The DA is calculated as 10% of the basic salary, HRA as 8%, and PF as 14%. Gross salary is calculated by adding DA, HRA, and PF. EPF is half of PF, and LIC is half of EPF. These deductions are subtracted from the gross salary to get the net salary.
