Description Of a Pay Stub
A pay stub is a document made of paper or data like a PDF file that an employer provides an employee with each payroll payment. 3 reasons why to use paystubmakr.com
The pay stub must show the gross amount earned during a pay period and the deductions for federal and state taxes, social security, health insurance, etc. 5 reasons to make a pay stub.
A pay stub is proof of income that you can use as a loan requirement, a rental of a place to live like a home or apartment. How To Get Pay Stubs For A New Apartment.
Why are pay stubs necessary?
It is of utmost importance to possess pay stubs as they play a significant role in maintaining clear communication between the employer and the employee. Pay stubs serve as a tool to avoid payment disputes and ensure transparency in the payment process. It is imperative to note that in several states, pay stubs are a necessity and must be provided to the employees at the time of payment.
Input For a Pay Stub Creation
Here is the information you need to create a pay stub:
- Company name and address.
- Employee name and address.
- Rate per Hour, month, or year.
- Total time that was accomplished in the pay period.
- The percentage of the different deductions.
Deductions/Withholding On a Pay Stub
- FICA, Social Security tax rate: 6.2% for the employee plus 6.2% for the employer
- FICA Medicare tax rate: 1.45% for the employee plus 1.45% for the employer
- Additional Medicare: 0.9% for the employee when wages exceed $200,000 in a year
- FUTA tax rate: 6% for the employer on the first $7,000 paid to the employee.
Who we are
At Pay Stub Makr, we all come to work every day because we want to control our pay stubs, which gives us control over our money. Everyone is guessing about all of those deductions. Employees don’t know what should be deducted, and employers don’t always deduct the right things. Throughout business history, people get paid with pay stubs, so let’s take a minute, run our pay stubs, and control our payroll decisions.