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A pay stub, also known as an earning statement, wage statement, pay slip, or paycheck stub, is a financial record that provides details about an employee's salary for each pay period. Despite its potentially confusing layout, a pay stub typically includes employee and company information, wages earned for the current pay period and year-to-date, tax breakdowns for state and federal taxes, and benefits deductions. Understanding a pay stub is important as it clearly indicates how much an employee earns. Employees may receive a physical paycheck with the pay stub attached, signifying that they have been paid.