Employee deduction in Payroll

I have given Personal Computers to my employee and in return I will be deducting the amount of PCs in monthly installments, how should I record this in Pay slip?

Have a read here Loan on PaySlip

Have you sold the PC to the employee and given him/her a loan to pay for it?

Was the PC a fixed asset in the accounts?
Was it bought by the company on behalf of the employee?
Who provided the money to buy the PC?

Answers to these question will have an impact on how you account for the transactions

It may also be important to know what you will do if employees leave. Will they take PCs with them and owe the company? Or will they have to return the PCs? Will you owe them for deductions already made?

Actions like this have the potential for creating all sorts of problems and need to be clearly thought through in advance. While not related to the accounting, it is always best to document the policy in writing and publish it in advance.