Paystubs display and convey valuable information that is used by banks and financial institutions. Banking facilities use the information on paystub to tell if a loan applicant is in a position to acquire a loan. Payment notifications are made by 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 financial institutions have the objective to make sure the related paystubs are valid and real. 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. Renting of a house and leasing of equipment are some activities where paystubs are used. In this cases, the paystubs tell about the credibility of the borrower or tenant.
Many institutions that use the paystub document should examine the paystub before carrying out any transactions with their clients. This can be done By verifying the rudimental information relayed at the paystub with the information relayed on the security cards like national identity cards or passports. The relevant financial institution must make sure the information on other documents matches with what is relayed on the paystub.
It is important to examine the quality of the paystub. The way they paystubs are printed tells about their quality. The paystub must have consistent characterization of letters and numbers if it is not tampered with. Some of the signs of a fake paystub include non-matching fonts, improper spacing of the characters and presence of dark lines in the document that gives the proof of editing. To know whether the paystub is fake or real, the layout of the paystub can tell. The difference between a real and a fake paystub can be told through the arrangement of rows and columns of the document according to the distribution of numbers and letters.
The numbers of the document must be checked keenly. Dates of payment of the employee’s salary by their employers is among the numbers of the paystub that should be examined. On the document, the mode of payment of salaries to the employees must match the employer’s way of paying its employees. The duration of work the employee works and get paid must also add up to their earnings. This shall depend on the period through which they are paid with the total yearly earnings in which the amount must equal the amount they paid after that specific duration. Tax payment inquiry is important in understanding whether the paystub is fake or real.