Payslip Meaning: Definition, Examples, and Translations
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payslip
[ˈpeɪslɪp ]
Definition
employment documentation
A payslip is a document provided by an employer to an employee, detailing the amount of money they have earned during a specific pay period. It includes information such as gross pay, deductions, taxes, and net pay. Payslips can also provide a record of accumulated earnings over time.
Synonyms
earnings statement, paystub, salary statement.
Examples of usage
- I received my payslip in the email today.
- Make sure to check the deductions on your payslip.
- My payslip shows that I received a bonus this month.
Translations
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Interesting Facts
Financial Literacy
- Understanding a payslip helps employees see if they are getting paid correctly and if their deductions are accurate.
- In many countries, it is legally required for employers to provide these documents to their employees, ensuring transparency.
Technology
- Digital payslips are becoming more common with the increasing use of technology in payroll systems, allowing employees to access their slips online.
- The shift to electronic payslips has helped reduce paper waste, aligning with environmentally friendly practices.
Cultural Perspectives
- In some cultures, payslips are also seen as a form of bragging rights among friends and family, showcasing financial success.
- Different countries may vary in terms of what information is included on a payslip, reflecting local tax laws and employment practices.
Workplace Practices
- Employers often use payslips to detail not only earnings but also contributions to pensions and benefits, fostering employee awareness.
- Regularly reviewing payslips can help employees plan their budgets effectively and identify any discrepancies in their pay.
Origin of 'payslip'
Main points about word origin
- The word combines 'pay', meaning money received, and 'slip', referring to a small piece of paper.
- The use of slips to detail wages dates back to the industrial revolution when workers were paid in cash with a small paper record.
The term 'payslip' is a compound word formed from 'pay', which comes from the Old French 'paier' meaning to pay, and 'slip', derived from the Middle English 'slip' meaning a small piece of paper or a note. The usage of the word began to rise in the 1960s alongside the growth of payroll systems in business. Payslips became an essential means of communication between employers and employees, ensuring transparency in remuneration and deductions. Over the years, payslips have evolved from paper formats to electronic versions, reflecting the advancements in technology and payroll processing. Today, payslips are not just a record of salary; they are vital for tax purposes and understanding employee benefits.