How do payslips look like

This payslip template comes with a how-to guide that includes an example of how to fill one out. This might include repayments made to your employees for things like travel expenses. A payslip is given to employees at the end of each pay cycle. It shows them what they earned and where that money went — including how much they get to take home.

Disclaimer: Xero does not provide accounting, tax, business or legal advice. Here, we take a look at some of the country-specific laws for payslips, as well as payslip delivery and use around the world. The law specifies that a written payslip must contain five sections of data:. Singapore only recently introduced the legal requirement to provide a written statement of pay with the Employment Act The law requires the payslip to be provided at the time of payment or, if this is not possible, within three working days of the payday.

For leavers, the payslip must be provided with the residual salary payment. As far as the required content, the Singapore payslip is a comprehensive document that reflects accepted payroll best practice.

The content mandated by law are:. Clearly this requires a lot more effort to produce than those required by Irish or Danish law. In particular, the requirement to include details of working time for overtime pay will require more information to be provided to the payroll. Payslip information must be retained for two years or, in the case of a leaver, one year after termination of employment.

Standard accounting practice would dictate that this information be retained for a much longer period, so companies are unlikely to inadvertently fall foul of the retention requirements. The earnings section on your payslip will display the number of eligible hours for shift premium, the dates the shift premium hours were earned, the shift premium rate of pay, and the total shift premium amount. The Earnings section of your payslip will display retroactively calculated earnings for employees where a retroactive change impacting your pay has taken place, like in the screenshot below:.

In the example above, the worker has received a retro dated compensation increase so all prior earning codes are recalculated based on the new amount. The original amount is a negative number and the newly calculated amount is positive. Earnings amounts will recalculate for all of the sub-periods within the previous pay periods impacted by the retroactive adjustment.

A retroactive adjustment resulting in retro pay may include retroactive compensation changes, retroactive time entries and changes to work shift. The payslip will display a separate line item for each sub-period earning amount showing the original amount paid which will appear as a negative value and a corresponding corrected amount that has been recalculated during retro processing.

To sort through the earning codes, click on the Dates column and use the Sort Ascending or Sort Descending options to reorder the earning type line items by date or click on the Description column and sort by earning types.

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