A paycheck is a check that an employer gives to the employee for the payment of wage. The employee may cash the check to receive the money or deposit the check into a bank account. Commonly, paychecks are printed on paper and have a pay stub attached. The paystub contains detailed information regarding the wage paid by the employer to the employee.
A paper paycheck usually contains the following information, which ensures that the money paid through the paycheck is delivered to the correct person:
- The name and address of the paying company.
- The employee's name and address.
- The number of the check.
- The amount paid to the employee.
- The date of issuance.
- The employer's bank routing and account numbers.
[Last updated in October of 2021 by the Wex Definitions Team]