Are you confused about when you need to give your employees a payslip and what needs to be on it?
You're not alone.
Here is some information to make the process easier:
You need to give your employees a pay slip within one working day of payday, even if they’re on leave or away from work. A pay slip can be in electronic form or hard copy. Pay slips should be easy for your employees to understand.
What do you need to include on a payslip?
Payslips must contain details of the payments, deductions, and superannuation contributions for each pay period.
You need to include the following details on a payslip:
- employer's name
- employer's ABN
- employee's name
- date of payment
- pay period dates
- gross payment amount
- tax deducted
- net payment amount
- any loadings, allowances, bonuses, incentive-based payments, penalty rates, or any other separately identifiable entitlement paid.
- If the employee is paid an hourly pay rate, the ordinary hourly pay rate and the number of hours worked at that rate and the amount of payment made at that rate
- If the employee is paid an annual rate of pay (salary), the rate as at the last day in the pay period
- Any deductions made, (e.g. health fund, union dues, salary sacrifice payments) including the name, or the name and number, of the fund or the account of each deduction
- If the employer is required to make superannuation contributions for the benefit of the employee:
- the amount of each contribution the employer made or is required to make during the pay period
- the name, or name and number, of any superannuation fund into which the contributions were made or will be made.
It’s a good idea to also show leave balances on a payslip, but it’s not a requirement.
If electronic pay slips are issued, they should be issued to employees securely and confidentially and you should ensure that employees can access and print their electronic pay slips in private.
If you don’t issue pay slips, they are late or you don’t include the correct information, Fair Work Inspectors can issue an infringement notice.
For further expert advice on human resources, get in touch 1300 662 399 or email me directly at karen@www.hillenstaffsolutions.com.au