A payroll calculator template is a professional document which is used for calculating the eligible payable salary amount to be paid to an employee. It helps employees to confirm actual deductions in their salary, since for them, it serves as an official statement of earnings. Being a useful tool, it is used for calculating the total amount of money which a company pays to those employees which are included in their payroll. A payroll calculator has great worth in the accounting field because it helps to identify the amount which is referred to an employee for a specific time frame, usually a month. It calculates the final amount of salary after making all deductions from predefines accounts, like income tax, provident fund and installment of any loans. A payroll calculator plays an important role in accounting or calculating the amount paid to the employees or labor for their work during the specific time period.