How different is employee paystub from contractors?
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Last modified 6/4/2020 3:03:25 AM EST
A pay stub is proof of payment made to employees or contractors, which itemizes the earnings and deductions for a particular pay period and the year-to-date total.
Both the employee and contractor's paystubs will have the following information:
- Company info
- Employee/Contractor details like name, SSN/EIN, and Address
- Pay schedule information like pay period and payday
- Earnings and deductions for the pay period
The only difference between the pay stubs is a contractor pay stub does not contain federal and state tax information as independent contractors are not subject to tax withholdings.
With 123PayStubs, you can generate professional pay stubs for both employees and contractors in simple steps.