The Importance of Reviewing Payroll
Payroll is an essential document for all paid employees. This contract contains the working conditions and includes information that regulates the employees’ situation. Apart from the monthly salary, the Social Security contribution bases and deductions are also included. For this reason, it is crucial that everyone review their payroll and verify that all data is accurate. There are several concepts that need to be controlled and confirmed.
Details to check in Payroll
The payroll is divided into several sections. In the header, the name of the company, the location of employment and the contribution account often appear. Below are the worker’s personal details, and it is important to verify the tax identification number (NIF), the Social Security number and the professional and contribution group. The professional group is a key element, as it determines the tasks and responsibilities of the employee. Some categories include minimum wages, and there are 11 in total.
Professional Groups and Functions
Professional groups cover a wide range of job roles, from engineers and graduates to unqualified assistants. It is important to understand the operation to calculate the net salary, as this final figure is derived from withholdings of personal income tax (IRPF), the contribution and other deductions such as bonuses or seniority bonuses. It is advisable to review this figure and ensure that the company pays the corresponding amount.
Importance of Quotation Bases
It is crucial to verify that the payroll contribution bases are correct, as these amounts play an essential role in the amount that will be received in the retirement pension and in determining the amount in case of receipt of unemployment benefit . In case of doubt, you can request a “Contribution basis report” on the Social Security website.
Review and Verification of Information
Although you may never have reviewed your payroll information, it is crucial to do so to confirm that everything is in order. This process also helps you understand where your final salary comes from and give you the peace of mind that you are receiving the relevant amount. In case there are mistakes, it is important to talk to the superior and the company to correct them.