What needs to be on a payslip?

The payslip – a formal confirmation which binds the employer and employee at the end of a pay period

Section 33 of the basic conditions of employment act states that the employer must provide employees with the following information when they are paid:

1. Employer’s name and address
2. Employee’s name and occupation
3. Period for which payments are made
4. Total salary/wage and any other allowances paid
5. All deductions
6. Amount paid
7. If applicable – employee’s pay & overtime rate
8. Ordinary and overtime hours worked

Other items that should be reflected on a payslip – this assist employees when applying for new accounts or loans at financial institutions

1. Employee number
2. Employee id number or passport number
3. Engagement /employment date
4. Employee’s address
5. Income tax number
6. Annual leave balance
7. Employee bank account number

The above are all requirements required for IRP’s to be submitted to SARS

Sourced from Labournet