Valuable information is conveyed by paystub which is used by banking and financial institutions. Loan applicants produces paystubs in banks to reveal their credibility in order to acquire loans. Transactions of payment are notified to the employee through paystubs. All the possible insurance deduction, taxes and the net earnings of the employee are relayed on a paystub.
It is the requirement to evaluate the paystubs to examine the possibility of the employee to get loans. The validity of the paystubs should be ensured by the banks. Paystubs are often faked by some agencies that assist the employee to acquire the loans even if they are not eligible for any loans. These parties put false information on the fake paystubs. Fake paystubs have the employees. payment details altered. To increase the eligibility of the employee to acquire loans, paystubs are edited with false information. This paystubs are also use in a variety of activities like when renting a house or leasing some equipment. In this cases, the paystubs tell about the credibility of the borrower or tenant.
The paystub document must be examined by financial, leasing and renting entities before using them to carry out any transactions. Verification can be done by comparing the information relayed on the paystub and the security cards like passports and national identification cards. The bank institutions and other entities must make sure that the information on the paystub matches the information on the other documents.
It is important to examine the quality of the paystub. The way they paystubs are printed tells about their quality. The characterization of letters and numbers can tell whether the document was tampered with. This may include non-matching fonts, improper spacing of the numbers and some evidences like presence of dark lines that shows signs of editing. To know whether the paystub is fake or real, the layout of the paystub can tell. The columns and rows in a paystub must add up according to the numbers and letters that are in the document.
The document’s numbers must be closely checked to reduce any chance of false information. The numbers include the various dates of payments by the institution that the employee works in. The employer’s way of paying their employees must match the mode of payment stated on the paystub. The duration of work the employee works and get paid must also add up to their earnings. Paystubs reveal yearly payments of the employee and that figure divided with duration in which the employee is paid must match those durational salaries. Tax payment inquiry is important in understanding whether the paystub is fake or real.