Quarterly Tip
Checking my pay-slip

 

Each month, every employee receive his or her pay slip,
Most often, the pay slip remains in the closed envelop in the bag and that’s a shame…
The pay slip contains many details that are important and their correct registration in the pay slip has implications on the correct calculation of your salary and a safer future.
So, as we approach the end of the year, it is recommended to check all these important details and in case you find some error, ask to correct them retroactively from the beginning of the tax year.

The details you should check in your pay slip:

  • Personal information: name, family name and ID number – you should check that this information is full and correct. The payment to the tax authorities and insurance companies contain this information, and when they are incorrect the meaning can be that they will not be attributed correctly.
  • Children: if you have kids, check the number of children specified in the slip. Children entitle you tax reductions – for men, children until the age of 5 years (children born between the years 2013-2017) and for women, children until the age of 18 years (children born between the years 2001-2018).
  • Date of beginning employment: it is important to check that the date is correct, since, in most cases, vacation days and convalescence begin accumulating as of that date.
  • Percentage of employment: it is important to verify the accuracy of the above details, since all the various benefits, such as vacation days, illness, convalescence and future allowances, are calculated according to the employment percentage.
    • If you are working a full time position, make sure that the form specify “1.00” or “Full”.
    • If you are not working a full time position, make sure that the percentage of employment is specified correctly.
    • If you are receiving an hourly salary, check that the number of days and hours are specified accordingly.
  • Insured salary: the salary according to which the employer and employee pay the pension fund / manager’s insurance – it is important to pay attention and verify this detail. When there is a change in your salary it is recommended to check that the insured salary has also been updated.
  • Vacation / illness:
    Vacation days – sometimes, the accumulation of days is done according to law and sometimes according to the number of days the employee and the employer agreed on at the time of signing the employment agreement. You should check that the monthly accumulation is correct.
    Sick days – the monthly accumulation (for a full time position) of sick days is 1.5 days, when, according to the law, an employer may allow an employee to accumulate up to 90 sick days.
  • Mandatory deductions: make sure that income tax, national insurance and health tax payments are deducted from your salary. An employee who turned 70 years old receives an old-age pension from the National Insurance Institute (whether he or she are working or not). Such an employee must notice that he or she receive a letter from the National Insurance Institute notifying as to the cessation of the payments.
    National insurance and health tax – according to law. You need to make sure that the names of the pension funds / manager’s insurance / study fund, to which the employer and employee pay monthly deductions, are the correct names you have selected.