- 1 Free Download Pay Stub Templates for Your Business Efficiency
- 2 What Is A Pay Stub?
- 3 Why Should Employee Need To Pay The Pay Stubs?
- 4 What Are The Informations Included In The Pay Stub Template?
- 5 Why Should The Company Have The Pay Stub Template?
Free Download Pay Stub Templates for Your Business Efficiency
What Is A Pay Stub?
If you hear paycheck stub, pay slip and pay stub, all of this term is the same. This is a small document that brings details about the employee’s pay. Even though in many countries employers are not required to provide the pay stub, but this is a great thing to do to keep track of your employee’s working hours. At the past, the pay stub is attached to a piece of paper. Today you can use the pay stub template adjust it as you need and then send it via payroll company’s website.
Why Should Employee Need To Pay The Pay Stubs?
Well, this sounds ridiculous for some people that employees are suggested to re-read their pay stubs. At first, new employees will review their paystub regularly and then they ignore it after certain periods. Here are some benefits for reviewing the pay stub:
Keep in mind you check all the details on the pay stub including simple things like social security number, name, pay rates, paid time off balance and others. This will save you from the hassle. Sometimes when it is late, it is difficult to get fixed.
Proof of Income
Well, sometimes we just need additional fund for another expanse. Then here we go, the personal loan. This is what the pay stub can do to you to get the approval. The lenders need the proof income so they can verify you are able to repay the loan in the future. However, they might ask for different requirements. Some of them might only need your pay stub, but the others might ask you the income tax.
What Are The Informations Included In The Pay Stub Template?
- Usually, the pay stub includes the social security number, name, and also address of the employee.
- The information of the employer including the address and name
- The dates of the payment
- The pay rate of the employee
- The total earnings before taxes, deductions and other contributions from the employee
- Local taxes
- Pensions or retirement plans
- Health or life insurance
- The total net pay after the above calculations
Why Should The Company Have The Pay Stub Template?
Due to the effectivity, a company should have at least one pay stub template to ease the payment administration. This information is relevant for the employers and also the employees. This is why the pay stub will include the employees’ and employers’ details.
Since payroll management is time-consuming, the pay stub format can cut the daunting task yet still readable and easy to understand. Due to this reason, we give you the pay stub templates which are also used by many business owners. Now, managing your payroll will be easier using this template.
When running a business, especially if you still have few staff, the pay stub will help you a lot because this saves time and energy. Besides, the column details will avoid you missing out details.
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