Understanding your pay stub is important for managing your finances. Here's a breakdown of all the sections you'll see on your Paychex Flex pay stub.
Earnings Section
- Gross Pay: Your total earnings before any deductions (hours x rate)
- Overtime: Additional pay for hours worked over 40 per week
- Benefits: Any additional compensation or bonuses
Tax Deductions
- Federal Income Tax: Based on your W-4 withholding allowance
- Social Security: 6.2% of gross pay
- Medicare: 1.45% of gross pay
- State Tax: Varies by state of residence
Other Deductions
- Health insurance premiums
- 401(k) contributions
- Garnishments (child support, etc.)
- Other voluntary deductions
Net Pay
Your net pay (or "take-home pay") is what remains after all deductions. This is the amount deposited into your bank account.
Year-to-Date (YTD) Totals
Your pay stub also shows YTD totals for earnings, taxes, and deductions. These are important for tax season and financial planning.
Tips
- Review each pay stub for accuracy
- Download pay stubs from Paychex Flex for your records
- Check YTD totals match your expectations
- Report any discrepancies to your employer immediately
