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.
The eligibility of an employee to acquire loans is done through paystubs. The validity of the paystubs should be ensured by the banks. Even if the employee is not actually eligible for a loan, some agencies often assist them in fixing false information into the document. The fake paystubs have false information. The payment details of the employee is the information that is commonly altered. All this is done to aid the employee from acquiring loans from bank accounts. Renting of a house and leasing of equipment are some activities where paystubs are used. Paystubs reveal the tenants and borrowers credibility.
The banks institutions or renting and leasing entities must examine the paystub document before carrying out any loaning transactions to 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. To know where the paystub is tampered with, the characterization of letters and numbers should be examined closely. 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. The paystub’s layout tells whether it is real or fake. According to the arrangement and distribution of the numbers and letters, the rows and columns in the document must add up.
The numbers of the document must be checked keenly. 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. There should be no conflict of number while assessing the duration of working and payment of the work done by the employee and 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.