A pay stub is also known as a pay slip or a pay advice. A stub is a proof that some salary was paid to you. The stub contains the gross amount, deductions and the net amount. The main deductions on a stub are; insurance premiums, taxes, pension scheme deductions and the organization contributions. Stubs are important since they act as security to loans, buying of cars, acquiring of real estate property and as a proof of a complete payment.
Nowadays, a lot of businesses and companies upload the pay slips of their employees on the website so as to reduce paperwork. We also have a lot of cases of fake stubs. The fake stub is a proof of a false payment. The following are reasons why it is illegal to come up with a fake stub.
Making a fake stub is a forgery. Forgery is an illegalized activity. In order to have an exact but fake copy of an original stub, you must come up with ways in which you will be able to get the seals, stamps, and signatures needed. So as to achieve this, you need to closely liaise with the relevant officials. Most officials ask for some favors in order to append these security features, of which it is corruption.
The counterfeit stubs give false benefits. As we said earlier, stubs are used as security for loans, renting of the real estate and a better salary for your new job. The moment the bank, car seller or the real estate company notices that you pay slip is fake, you will get no loan, car or any real estate property respectively. The law requires you to be charged with forgery in case you are caught. Obtaining of fake pay slips also leads to the collapse of businesses.
The fake pay slips are used in deceiving people that you have the financial capabilities. In order to win some people and get some favors, you may produce fake stubs and the people will believe you are rich. Many people also use fake pay slips to request loans from their close friends.
The fake pay slips have incorrect information and figures. Since the people who produce fake stubs have little knowledge on the production of payslips, they will definitely do some miscalculations. The common mistakes on the pay slips are misspelled words and improper placing of decimal points.
A fake pay slip may be used in refraining from the financial responsibilities. In order to be relieved from carrying out some tasks which require money, you may produce a fake stub with a less amount of net income. Then you will be relieved the financial task.
These are the reasons why it is illegal to produce a fake pay slip.