Hi Akshay,
Have you already activate OData service SRA006_SRV in transaction /IWFND/MAINT_SERVICE and /sap/opu/odata/sap/SRA006_SRV in transaction SICF.
For how to configure My Paystubs (version 1), please refer to App Implementation: My Paystubs (Version 1) - SAP Fiori principal apps 1.0 for SAP ERP - SAP Library
Regards,
Ning