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A salary statement, commonly called a payslip, pay stub, paystub, pay advice, or sometimes paycheck stub or wage slip, is a document received by an employee that either includes a notice that the direct deposit transaction has gone through or that is attached to the paycheck.
Handling payroll typically involves sending out payslips to employees. A payroll is a list of employees of a company who are entitled to receive compensation as well as other work benefits, as well as the amounts that each should obtain.
Your paycheck stub serves as proof of income and government agencies, lenders and landlords often request them to verify your earnings. A pay stub contains all your income information, so...
They are issued for payroll to individual employees, accounts payable to vendors, to local governments, to taxpayers receiving tax refunds, to recipients of unemployment benefits, and to owners of unclaimed money.
It's essential to verify that each of your pay stubs contains your correct name, tax deductions, Social Security number, vacation balance and pay rate.
Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient. In most jurisdictions, tax withholding applies to employment income.
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