..Pay packets; KNOW HOW.
An umbrella company acts as an employer to contractors on fixed term assignments they get through recruitment employment agencies, paying contractors through PAYE.
We've teamed up with umbrella company Paraplus to help workers know how to check their pay slips to ensure they are getting a fair deal and are aware of what they are being paid and what is being taken from them.
Here are a few key questions workers need to ask themselves.
If the answer is no to any of them, alarm bells should ring and they should immediately demand an answer.
Is your pay slip easy to read and understand?
From the top of the page to the bottom can you clearly identify your expenses, contributions and taxes paid?
Are you reporting your expenses or is someone doing it for you?
Are there expenses on your pay slip that you don't recognise?
Does your pay slip clearly show your National Insurance contributions and the level of tax you are on?
Is your take home pay below the minimum wage?
Are relevant fees and margins taken for managing your PAYE or being part of an umbrella company clearly visible and correct?
Phil McDonald, managing director of Paraplus, says: "If you aren't looking at your pay slip every month there is a chance you are being ripped off.
"Apart from losing money at the time, if the tax man finds out later, you could be liable to pay the back taxes.
"In all these situations, your pay slip tells the story.
"Pay slips shouldn't be confusing - your employer should provide you with a clearly itemised pay slip.
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|Publication:||The Mirror (London, England)|
|Date:||Oct 24, 2013|
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