Q:
What is the difference between paycheck and payslip?
Answer
Paycheck - this is the method by which the Employee is paid (A Bank Check/Cheque or Direct Deposit to Bank)
Payslip - Also called as Pay Stub is the paper which will typically detail the gross income and all taxes and any other deductions such as retirement plan contributions, insurances, garnishments, or charitable contributions taken out of the gross amount to arrive at the final net amount of the pay, also including the year to date totals in some circumstances.
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