A payslip is an official document that details an employee's earnings for a specific pay period.
It includes essential information such as gross pay, net pay, tax deductions, superannuation contributions, and any additional allowances or deductions.
Payslips are typically issued after each pay run and provide employees with a transparent record of their income and tax obligations.
For example, a payslip might show that an employee earned $4,000 in gross pay for the month but had $1,000 deducted for taxes and $300 for superannuation contributions, resulting in a net pay of $2,700.
