Payslip

What is a payslip? — A payslip is an official document provided by an employer to an employee each time they are paid. It details the amount of money earned, the taxes deducted, and any other contributions or adjustments made to the employee's pay. The payslip helps employees understand how their net salary (take-home pay) is calculated from their gross salary (the total before deductions).

What information is included in a payslip? — A payslip typically includes:

How do I calculate my net salary from my payslip? — Your net salary is the amount left after all deductions (taxes, social security, and other contributions) are subtracted from your gross salary. It's typically clearly stated on your payslip.

Why are there deductions on my payslip? — Deductions are typically mandatory for taxes, social security contributions, and other benefits (such as health insurance or retirement contributions). These ensure compliance with the law and help fund public services.

How long should I keep my payslips? — It's recommended to keep your payslips for at least five years, as they may be needed for tax filings, loan applications, or verifying your employment history.

What should I do if there is an error on my payslip? —If you notice a mistake (such as incorrect pay or deductions), report it to your employer or payroll department as soon as possible to get it corrected.

In what form will I receive my payslip? — In Luxembourg, employers can issue electronic payslips as well as a paper version if they prefer. Electronic payslips are becoming increasingly common due to their convenience and environmental benefits.

Synonyms: fiche de salaire, pay slip, salary slip, wage slip, payroll statement, earnings statement, salary statement, compensation slip