If you are an employer from Canada, you need to know if you should use a Paystub maker Canada free or paid. You may be lured to go for free paystub maker download or blank pay stubs template, but the best any employer can do is to get a professional pay stub manager like PayStubly. This will help you to make pay stubs easily and pay your employees on time, always. Otherwise you may face many problems including the following.
Strenuous and time consuming
Making a paycheck stub means you spend hours straining over various details, information and regulations which can turn out to be confusing. Preparing each free paystub template manually in the old fashioned way takes a lot of time. The job gets difficult for big companies with large number of workers. Some employers choose to use pay stub generator Canada free, but many of them are unreliable.
Room for errors
A pay stub template or pay stub generator needs the correct input of tax rates, payment rates and different other details which require knowledge about the tax rules. Various tax deductions including income tax, Medicare tax, Social Security tax, etc are calculated bases on rates defined by the government.
On top of this, there are state taxes and charges to deal with. For example, a Canadian employer would need to use free Canadian pay stub template for his employees. You can get rid of all these complications by using PayStubly which features a free paystub calculator which calculates and gives you the output amounts in a simple way.
Keep your employee’s pay stubs stored safely
The pay stubs created using PayStubly can be saved online or printed on paper to give to your employees. You need to keep those pay stubs safely stored away for up to three years even after an employee quits or ends his job tenure.
Why is it important to store a paycheck stub?
The pay stub is an important document detailing information about an employee. Many governments including the Federal one has made it illegal to throw away records of your employees. You need to keep record of some vital information about the employee including his name, gender, address, contact number and Social Security number.
The authorities also legally require you to preserve details about payment and hourly rates, wage calculation rates and also total hours of work and overtime undertaken. Any deduction or cut off that result in change of the employee’s earnings should be recorded along with the other information.
How to store pay stubs safely?
Ideally the paycheck stubs of an employee should be kept under lock and key in the headquarter or the working location of the employee. You have 72 hours to produce the records to The Department of Labor from the time they ask for it. Missing this deadline can land you in trouble. So it is best to store them in such a place where no one can have unauthorized entry.