Copy of Pay Stub – Top Reasons You Keep a Copy of Your Pay Stub
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When you work for an employer you do so in order to draw a paycheck at the end of the week or appropriate pay period. Along with each paycheck he should also provide you with a copy of a pay stub to show you how much you have earned. If he just gave you a check with a figure on it you would never know exactly how much you really have earned for your efforts. This could easily lead you to question whether or not you were being paid properly or not.
Your copy of pay stub paperwork is your only proof of your income and is a document that you should keep in a file at home. Should you ever need to apply for a loan or public assistance such as food stamps or heating assistance this is the first thing they are going to ask for. In order to get a loan or assistance you are going to need to provide the appropriate person with proof not only of your current income, but proof of job stability. Keeping your pay stubs on file will allow you to provide the proof they need.
While applying for assistance or loan is an important reason to keep a copy of the pay stub you receive each pay period, they are not the only reasons. Since your pay stub is a record of the hours you have worked and how much you are paid for each hour it must match your time card. Should there be any question regarding the hours you have worked or the amount you have been paid you can verify them using your pay stub and talking to your payroll department.
The copy of pay stub information should also show all of your deductions from state and federal taxes to your union dues and health insurance copayments. This is your only way of making sure that the right amounts are being taken out and your taxes are being paid properly. If there is any dispute or you feel that the amount you are paying is either too much or too little you will be able to get it corrected so that you are not stuck with a huge tax bill come April 15th.
In short a copy of your pay stub may be the single most important document you ever receive from your employer next to your actual paycheck. This form should be stored safely in a file where you can easily access them if you need them and are not likely to be lost or damaged.