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Employers in the Royston area should be aware of the legal requirements concerning payslips – here is the Taylor & Co guide to the essentials…
Most employees receive payslips and take them for granted, but what are the legal requirements?
All employees, including those working part-time and temporarily, are entitled to receive a written payslip on or before their pay day. The Employment Rights Act (ERA) sets out the required contents of a payslip:
In practice, most employers give much more information than the basic statutory requirements. For instance, it is obviously good practice to analyse gross pay to show:
It is also usual to show the period covered by the payment, and the date of payment.
You can significantly reduce queries from employees by giving basic details such as:
If you are an employer in the Royston area we can provide support and advice – contact Taylor & Co.
17 Jul 2018
The Financial Reporting Council (FRC) has published a revised Corporate Governance Code, which 'emphasises the importance of positive relationships between companies, shareholders and stakeholders'.