{"id":21417,"date":"2020-08-13T17:30:09","date_gmt":"2020-08-13T17:30:09","guid":{"rendered":"https:\/\/upgifs.com\/blog\/21417\/5-reasons-why-a-payment-stub-is-an-important-document\/"},"modified":"2020-08-21T15:26:35","modified_gmt":"2020-08-21T15:26:35","slug":"5-reasons-why-a-payment-stub-is-an-important-document","status":"publish","type":"post","link":"https:\/\/upgifs.com\/blog\/21417\/5-reasons-why-a-payment-stub-is-an-important-document\/","title":{"rendered":"5 Reasons Why a Payment Stub Is an Important Document"},"content":{"rendered":"

The U.S. Department of Labor requires employers to keep records<\/a>\u00a0of how much they pay their workers. Many employees assume that this makes their paystub important to their employer, but not to them. This isn’t true.\u00a0<\/p>\n

Keep reading now to learn why your\u00a0payment stub is just as important to you as it is to your employer.\u00a0\u00a0<\/p>\n

1. Pay Stubs Are Legal Proof of Employment<\/h2>\n

If you want to apply for a loan or a mortgage or to rent an apartment, you’ll need to be able to prove that you are employed. A pay stub is accepted proof of employment for almost any application process. Pay stubs can also serve as proof of identity and address when you are applying for a license, non-driver ID, or other key documents.\u00a0<\/p>\n

2. Payment Stubs Are Legal Proof of Income and Withholdings<\/h2>\n

As an employed adult, you may be surprised by the number and variety of situations in which you need to prove your income. Payment stubs are the fastest and easiest way to do that. Your paystub can also serve as proof that taxes and other mandatory payments are being appropriately withheld from your paycheck should an issue arise.\u00a0<\/p>\n

The clear information that pay stubs provide about gross income vs. net income can also empower workers to take control of their finances. Workers who don’t have a clear understanding of what they can expect to take home every week can become slaves to money<\/a>. Getting familiar with their pay stubs and pay can be the first step in making positive, healthy changes.<\/p>\n

3. Check\u00a0Stubs Help Workers Verify and Correct Their Pay<\/h2>\n

Everyone makes mistakes. Even employers. Your pay stub helps you catch and correct those errors when they occur, ensuring that you:<\/p>\n