A Simple Guide on How to Read Your Paystub
The world continues to advance and today cheques are never a common term anymore. Every other employee will always be focusing their attention in knowing more about their financial statements. Most companies today have a better strategy when it comes to making payments where they make the payments directly to the employees’ accounts hence saving transport costs needed when going to deposit the cheques. A paystub will always be availed to you during the payment process and as you go through this site, you will learn more about this service. A paystub will indicate your net income, all the other deductions as well as the taxes that have been deducted from your wages. The fact that the document is one of the most vital in your life an employee should make you curious to know the best way to go about it. As you continue reading this page, you will learn more about how to read the paystubs.
Just at the start is the employer’ and the employees’ information. This information is the most important vas it is all that will determine whether you should go ahead reading the document if yours or give it back. The information here entails your name, ID number, date as well the period during which you offered your services to the company. This should be the very first part to look into before you even proceed with reading the paystubs.
The next area that will be of key interest to you is the payment section. It is this part that holds the information about the number of hours worked to make you liable for the payment. Take your time and verify that the number of hours that are displayed on the paystub is exactly that which you worked for. Finally, you need to multiply the number of hours worked by the wages per hour and you will get the total payment.
The next area for you to go through are deductions on the paystub. This includes several deductions that are made on your gross wages. State taxes, social security, Medicare and other payments that may be optional will all be displayed here. Your earnings and your marital status are some of the key factors that will always determine the amount of government taxes.
In conclusion, a paystub serves a very key role in ensuring that everything provided to you is correct and you can easily track all details. The information above is all that is key when reading a paystub.