Your pay slip explained
After a week of hard work, your favorite day has arrived: payday! Your eyes fly over the (digital) paper to see how much money you will receive in your account this week. But do you also know what else is on your payslip? All those numbers and abbreviations... Your payslip can sometimes be quite confusing. Yet it is incredibly important that you understand how your payslip is structured. You want to know exactly what you earn, right?

Reading Time: 8 minutes
In this article, we explain everything you need to know about your paycheck. From what it is to the different terms. After reading this article, you'll know exactly how your paycheck works.
What is a paycheck?
Basically, you probably already know what a paycheck is. Still, we'll explain it one more time. A payslip is also called a salary slip or salary statement. You receive your payslip from your employer. It is a (digital) paper showing how much money you have earned. You probably know exactly where to look to see how much money you made this week. But that's not the only thing on your pay stub. In fact, this (digital) piece of paper shows exactly how your salary is made up.
What does your paycheck say?
First, it's good to know that every paycheck looks different. So you may have to spend some time searching for where all the information is on your own pay stub. But basically, every pay stub is the same.
There are a few mandatory items that must appear on your pay stub, namely:
Your data and your employer's data;
- Gross pay;
- Net pay;
- Payroll taxes;
- Premiums;
- Vacation pay;
- The legal minimum wage;
- The period you get paid for (for example, the month of August);
- The number of hours you work;
- Whether there is a written employment contract;
- Whether there is an indefinite employment contract;
- Whether or not there is an on-call agreement.
Are these terms still abracadabra for you? Below we explain a few terms in a little more detail.
The gross salary
The gross pay you see on your paycheck is the amount you receive from your employer before taxes and contributions are deducted. Thus, this is not the amount you will eventually receive in your account.
The net wage
This is the amount you get from your employer after all taxes and premiums are subtracted from it. This is the final amount you will get in your account, though.
Payroll tax
Payroll tax is the tax you pay on your wages. This is deducted directly from your salary by your employer. Wage tax consists of payroll taxes and national insurance contributions.
Premiums
Premiums are contributions you pay for social insurance, such as pension, unemployment and sickness. These contributions are deducted from your gross pay by your employer.
Vacation money
Vacation pay is an extra amount you receive in addition to your regular salary. At UBN, your vacation pay is automatically credited to your bank account once a year. This happens in the first week of June.
Are there terms on your paycheck that we haven't explained here? Then contact your UBN branch. They can tell you more about them.
Why is it important to check your paycheck?
It is important to check your payslip carefully. With your payslip, you can check that the number of hours worked, your salary and the allowances for overtime or irregular hours are correct. You can also see exactly how much tax and premiums you pay. This will help you better understand what you have left over net from your gross salary.
In brief
OK, so your pay stub is a (digital) piece of paper that shows you exactly how your salary is structured. It's important to check your paycheck to make sure you're getting what you deserve.
My paycheck through UBN
Once you work for us, you will find all your pay slips and annual statements in your personal 'My UBN' environment. There you can view and print the statements. Do you have substantive questions about your payslip? Then contact your UBN branch. They will be happy to help you. At UBN, we think it is important that you know exactly where you stand.
After reading this article, are you curious about what your paycheck looks like? We have a wide selection of different job openings. Check out our vacancies online or stop by a UBN branch near you to get acquainted. Who knows, maybe you will have received your paycheck by next week!
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