A payslip is a document that’s given to an employee at the end of each payroll cycle, usually monthly. It shows their total amount earned, less deductions for things like tax, loan repayments or other deductions.
Payslips show income from salary, commission, and overtime. They also list things like:
- taxes deducted if applicable
- reimbursements for personal work expenses (like mileage or travel expenses)
- deductions such as insurance and pension contributions
- employer contributions toward insurance or pensions
Payslips may also show other employee information such as the amount of leave such as vacation entitled or used, and bank account details money was transferred. Payslips are also known as pay stubs, paycheck stubs, or pay advice.
Previously, the payslip was a paper document. Today, most employers receive electronic payslips, which are password protected. These are emailed to employees or made available to them online through self-service systems.