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05-Payworks Understanding Pay Statements

The document provides a detailed explanation of a pay stub for both salaried and hourly employees, outlining sections for employee balances, earnings, deductions, and earnings summary. It describes how to interpret the current and year-to-date (YTD) amounts for each section, including statutory and other deductions. The earnings summary highlights gross pay, total deductions, and net pay for the pay period and year-to-date.

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32 views2 pages

05-Payworks Understanding Pay Statements

The document provides a detailed explanation of a pay stub for both salaried and hourly employees, outlining sections for employee balances, earnings, deductions, and earnings summary. It describes how to interpret the current and year-to-date (YTD) amounts for each section, including statutory and other deductions. The earnings summary highlights gross pay, total deductions, and net pay for the pay period and year-to-date.

Uploaded by

sa.treo.p.a.l.s.en
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Sample Pay Stub—Salaried Employees

If you opt to have additional federal tax


collected, this amount will appear here.

Employee Balances

The Employee Balances section shows the amounts of


Employer Paid Benefits (RRSP contribution, taxable benefits,
vacation time, etc.) that are deposited into your account.

Current: This column reflects the amount for this pay period.

YTD: This column shows the total amounts accumulated


since the beginning of the year (Year-to-Date).

Earnings

All Earnings paid out to you, including regular pay


(salary or hourly); overtime pay, sick pay, and vacation pay.

Hours: Refers to hours worked, if applicable.


Rate: Refers to hourly wage or total salary amount paid.
Current: This column reflects the gross amount paid to you in this pay period.
YTD: This column reflects the total amount paid to you since the beginning of the year (Year-to-Date).

Deductions

Any applicable Deductions will appear in this section.

Current: This column reflects the amounts of each deduction taken off of your paycheque in this pay period.
YTD: This column reflects the amounts of each deduction taken since the beginning of the year.
Statutory Deductions: An employer has a legal obligation to withhold statutory deductions, which are: CPP or QPP (Quebec
only) contributions, EI and QPIP (Quebec only) premiums, and federal and provincial income tax. Everywhere except in
Quebec, provincial tax is collected as part of the federal income tax deduction. Quebec has separate deductions for federal
and provincial taxes.

Other Deductions: You may also have legal deductions (e.g. garnishments and family support deductions); company-
compulsory deductions (e.g. union dues, your portion of benefit plan premiums); and voluntary deductions (e.g. Canada
Savings Bonds, charitable donations).

Earnings Summary

Gross Pay: Your total amount of earnings, before deductions.


Deductions: Your total amount of statutory and other deductions.
Net Pay: Your total amount of earnings after deductions. This is the amount that will appear on your paycheque.
Current: This row reflects the totals for this pay period.
YTD: This row reflects the totals for the year-to-date (YTD).
Sample Pay Stub—Hourly Employees
If you opt to have additional federal tax collected,
this amount will appear here.

Employee Balances

The Employee Balances section shows the amounts of


Employer Paid Benefits (RRSP contribution, taxable benefits,
vacation time, etc.) that are deposited into your account.

Current: This column reflects the amount for this pay period.
YTD: This column shows the total amounts accumulated
since the beginning of the year (Year-to-Date).

Earnings

All Earnings paid out to you, including regular pay


(salary or hourly); overtime pay, sick pay, and vacation pay.

Hours: Number of hours worked during pay period.


Rate: Hourly wage.
Current: This column reflects the gross amount (number of hours multiplied by rate) paid to you in this pay period.
YTD: This column reflects the total amount paid to you since the beginning of the year (Year-to-Date).

Deductions

Any applicable Deductions will appear in this section.

Current: This column reflects the amounts of each deduction taken off of your paycheque in this pay period.
YTD: This column reflects the amounts of each deduction taken since the beginning of the year.
Statutory Deductions: An employer has a legal obligation to withhold statutory deductions, which are: CPP or QPP (Quebec
only) contributions, EI and QPIP (Quebec only) premiums, and federal and provincial income tax. Everywhere except in
Quebec, provincial tax is collected as part of the federal income tax deduction. Quebec has separate deductions for federal
and provincial taxes.

Other Deductions: You may also have legal deductions (e.g. garnishments and family support deductions); company-
compulsory deductions (e.g. union dues, your portion of benefit plan premiums); and voluntary deductions (e.g. Canada
Savings Bonds, charitable donations).

Earnings Summary

Gross Pay: Your total amount of earnings, before deductions.


Deductions: Your total amount of statutory and other deductions.
Net Pay: Your total amount of earnings after deductions. This is the amount that will appear on your paycheque.
Current: This row reflects the totals for this pay period.
YTD: This row reflects the totals for the year-to-date (YTD).

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