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Employers may provide employees with a pay stub, often referred to as a pay slip, along with their payment or as a separate electronic document. The pay stub shows the employee's pay for the most recent pay period and could potentially provide information for the entire year.
Pay stubs can be a vital source of information for employees since they explain how their salary is determined and what deductions are made from their paychecks. Pay stubs can also be used as evidence of income when requesting loans, housing, and other financial services
Employers are required by law to give workers a pay stub or statement of earnings for each pay period in several nations, such as Canada. Pay stubs are a popular practice among businesses even in nations where they are not necessarily required by law, like the United States.
Although the particular information on a pay stub can differ based on the employer and the nation, the following are some of the most frequently found items:
Broadly, the details on a pay stub assist employees in understanding how their pay is determined and how much money they are receiving after taxes and other deductions from their cheque.