Paystubs can be used for many purposes in Canada. These are used to calculate social insurance contributions and payroll taxes. If you beloved this post and you would like to acquire far more details relating to pay stub example kindly stop by the page. Paystubs also ensure that there is sufficient fund to cover the cost of living and other expenses of employees. In other words, paystubs help employees and employers maintain records of income and expenses, thereby reducing the chances for fraud and embezzlement.
A paycheck (also known as pay stub or pay-cheque) is a paper document that is issued by an employer to an employee. It certifies that the employee has been paid wages. It contains all the information such as name, address, net earnings, gross earnings, deductions made, deductions remaining, tax payable, pay rate, grace period and more. It can be used to pay employees, track overtime/under-time work, and other purposes. Paystubs allow employees and employers to easily submit pay slips. They make reporting easier and simplify the documentation.
The use of paystubs has eliminated the need for numerous estimates, forms and complicated calculations required for payroll. With payrollstubs, employees’ gross earnings and net deductions can be easily entered into the system. The electronic codes are automatically computed according to the specifications entered by the employee.
Paystubs are also useful for tax preparation. Paystubs are useful in the preparation of federal tax returns. They provide the employer with options for tax deductions and standard deductions as well … 
.jpg)
