Understanding your payslip
Not sure what your payslip should look like and what information it should hold? We provide you with an example and breakdown of a typical payslip.
Not all payslips look the same; however, they should all contain similar types of information.
1 – Personal information, including name, National Insurance number (NINO) and Pay As You Earn (PAYE) Code.
2 – Payments including salary, wages, bonuses and overtime for the pay period.
3 – Deductions including income tax, National Insurance contributions (NIC) and personal pension contributions (if any) for the pay period.
4 – Amounts earned and deductions taken off for the tax year to date, including the current pay period.
5 – Net pay for the pay period – this is the amount you should actually receive. This is your earnings for the pay period less the deductions for the same period.
6 – Tax Reference – this is the employer's PAYE reference, which should be present.