The pay stub form provides employees with information on received payments. It covers a specific period and includes data related to the method of payment, wage, hourly payments, benefits, and deductions. The pay stub form has to follow labor regulations in your country and the company's policy. For example, deductions may refer solely to taxes or include social and medical insurance, pension payments, and other local taxes. Benefits depend on the company's policy and may include Christmas or yearly bonuses, gift or meal cards, and private medical insurances. You may have in the pay stub form information about the leave balance, overhours, and sick leave.
While the pay stub form is subject to local regulations and policies, it usually includes general data such as the name of the company, the name, title, and employee department. Other elements include the period, the date, method, and detailed information on types of payments, amounts paid, the currency, and deductions. To avoid mistakes, use Excel's formulas for everything that requires computations.
If you want a paperless office and well-organized records of your employees, we recommend you to consider LeaveBoard. It's synchronized with payroll and includes accurate data about the employees, their leave balances, and its policy. Sounds good? That's more! LeaveBoard is entirely free for businesses with less than nine employees.
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