A wage slip, frequently called a pay stub or a pay slip, is a type of document that an individual is given with his/her paycheck, or after his/her funds have been deposited through direct deposit. Wage slips detail all pertinent information regarding an individual's income and the taxes that are deducted from his/her income.
For example, a wage slip will state the amount that an individual earns for each hour that he/she works, the number of hours that he/she worked during that pay period, the amount that was deducted for income tax purposes, and any funds that have been removed and placed in his/her retirement fund. A pay stub will also include information about an individual's total earnings, from the date that he/she began working with an employer, to the time that he/she obtained the wage slip.
Wage slips act as financial records of an individual's salary and pay history. As a result, these documents play an important role in ensuring that an employer is adhering to employment and business laws and regulations. If an employer is violating United States legislation regarding tax deductions or minimum wage standards, it will likely be observable in an individuals wage slip.
For example, if a wage slip indicates that an eligible employee is receiving less than the state or national minimum wage, this document can function as evidence of of his/her employer's illicit and unethical behavior. In most countries, employers are required to provide their employees with wage slips that detail their earnings and deductions.