Every few weeks, employees receive a slip of paper that details their health insurance premiums, year-to-date 401k contributions, and even vacation and sick time balances. It sounds like the dream HR document, one that’s practical for employees and one that businesses can use to demonstrate value.
Enter the humble paystub, arguably the most important and misunderstood document in the workplace today.
There’s a lot more to paystubs than just the “bottom line.” Unfortunately, between the FUTAs, SUTAs, and countless other tax codes and deductions that litter them, deciphering paystubs may seem better suited for an accountant. Naturally, employees have more than their fair share of questions on payday. “Are my 401k contributions kicking in yet?” or more commonly, “This seems low—where’s my overtime?”
Some might even ask whether their pay is too high, or if enough taxes are being withheld. While you might not have earned that CPP or CPA certificate, you can bet employees will come to HR with their payday questions first.
Get ahead of those questions with our new guide, How to Read Employee Paystubs. We’ll go through a mock paystub one section at a time, cutting through the jargon. As an additional resource, we’ve included a glossary of common federal and state tax codes, so your employees know what they’re actually being taxed for. It might just help you make better sense of your own paystub, too.
Whether you choose to use it as an internal resource or provide it to employees directly, download the guide by clicking below.