What the terms in your payslip mean…

• Taxable Pay – how much of your earnings have been taxed.
• N.I Employee – the amount from your earnings that have been contributed to your national insurance.
• N.I Employer – the amount of money that your employer has contributed to your national insurance.
• SSP – this stands for statutory sick pay. This will only show on your payslip if you have taken any sick days and will typically be in the deduction section.
• SMP – this is statutory maternity pay.
• Pension Employee – this will show you how much of your pay has gone towards your pension.
• Pension Employer – this is how much your employer has paid into your pension.
• Basic Pay – this is your basic monthly salary which should be consistent unless your hours differ.
• Income Tax – this is based on what you earn and is taken out of your pay to pay for public services like the NHS.
• Total/ Gross Pay – this is your total pay for that month before deductions are taken.
• Deductions – the amount that has been deducted from your total pay.
• Net Pay – this is the amount that will be paid into your bank account.
• N.I and Table – your national insurance number and the category you are in, given by HMRC, which determines how much of your pay needs to contribute towards it.
• Payment Method – how you are paid, for example through bank transfer which often shows up as ‘BACS.’
• Year to Date – this section is a summary of everything that has been paid to you within that year.
• Rate hours – the amount of hours you have worked in that period and your hourly rate if it is applicable.