What Is It?
Pay Stub is a record that verifies an employee's salary and deductions for a given pay period. It generally contains the following details:
The Pay Stub Form is usually generated by the employer's payroll system and provided to the employee with their paychecks. It serves as a record of the employee's earnings and can be used for tax purposes and to verify the accuracy of payroll records.
When To Use?
Pay Stub Forms are typically used:
- With each pay period: The Pay Stub Form is usually generated by the employer's payroll system and provided to the employee, along with their paycheck, for each pay period.
- For tax purposes: The Pay Stub Form serves as a record of the employee's earnings and deductions and can be used to verify the accuracy of payroll records for tax purposes.
- For tracking earnings: The Pay Stub Form can be useful for employees to track their earnings over the course of a year, which can be helpful for budgeting and financial planning.
- For verifying payroll records: In the event of a dispute about the accuracy of payroll records, the Pay Stub Form can be used to verify the information.
- For loan applications: In some cases, Pay Stub Forms may be required as part of a loan application to demonstrate an individual's income and employment.
In summary, the Pay Stub Form is an important document that is used regularly for payroll purposes, tax purposes, and to verify the accuracy of payroll records.
What To Include?
A Pay Stub Form includes the following information in detail:
- Employee Information: The Pay Stub features the worker's name, address, Social Security number, and other personal details.
- Company Information: The name and address of the employer and the company logo are also included on the Pay Stub.
- Pay Period: The dates covered by the pay period, including the start and end dates, are clearly indicated.
- Gross Pay: The Gross Pay is the total amount earned by the employee before any deductions are taken out. This amount includes regular pay, overtime pay, bonuses, and other forms of compensation.
- Deductions: The Pay Stub lists all deductions taken from the employee's pay, such as federal and state taxes, Social Security, Medicare, insurance premiums, retirement plan contributions, and any other deductions required by law.
- Net Pay: Net Pay refers to the amount that the worker receives after all deductions have been subtracted. This is the amount that is actually deposited into the employee's bank account or given as cash.
- Year-to-date (YTD) totals: The Pay Stub also includes year-to-date totals for Gross Pay, Deductions, and Net Pay, which can be useful for tracking the employee's earnings over the course of the year.
| Employee’s Full Name |
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| Position |
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| Department |
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| Supervisor/ Manager |
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| Employee ID |
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| Emergency Contact Name |
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| Contact Phone Number: |
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| Alternate Phone Number |
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| Contact Address |
|
|
| Pay Stub detail |
| Pay Period |
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| Date of Payment |
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| Gross Pay |
|
Deductions:
-Federal Tax
-State Tax
-Social Security Tax
-Medicare Tax
-Retirement Plan Contributions
-Health Insurance Premiums
-Other Deductions |
|
| Net Pay |
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| Year-to-Date Gross Pay |
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| Year-to-Date Deductions |
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| Year-to-Date Net Pay |
|
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| Signature: |
|
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