Paystubs display and convey valuable information that is used by banks and financial institutions. Loan applicants produces paystubs in banks to reveal their credibility in order to acquire loans. 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 evaluation of employee’ eligibility for a loan is done through the paystubs. The financial institutions have the objective to make sure the related paystubs are valid and real. Paystubs are often faked by some agencies that assist the employee to acquire the loans even if they are not eligible for any loans. The fake paystubs have false information. Among the information that is altered or put in the paystubs may include the payment details of the person. Putting false details in the paystubs is done to help employees. acquire loans from banks. Renting of a house and leasing of equipment are some activities where paystubs are used. In this cases, the paystubs tell about the credibility of the borrower or tenant.
The banks institutions or renting and leasing entities must examine the paystub document before carrying out any loaning transactions to their clients. To ensure the information on the paystubs is valid it should be compared with the information on other documents like the security cards. The bank institutions and other entities must make sure that the information on the paystub matches the information on the other documents.
The quality of the paystub is also worthy examining. The quality of the paystubs depends on how they printed and produced. The characterization of letters and numbers can tell whether the document was tampered with. This may include non-matching fonts, improper spacing of the numbers and some evidences like presence of dark lines that shows signs of editing. To know whether the paystub is fake or real, the layout of the paystub can tell. The columns and rows in a paystub must add up according to the numbers and letters that are in the document.
The document’s numbers must be closely checked to reduce any chance of false information. 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. This shall depend on the period through which they are paid with the total yearly earnings in which the amount must equal the amount they paid after that specific duration. Tax payment inquiry is important in understanding whether the paystub is fake or real.