Are you an employee? If so, you will periodically receive a payslip from your employer stating the salary that will be in your account on the next payment date. However, that payslip, also known as a salary slip, also contains terms with which you may not be entirely familiar. If you want to be able to understand your payslip, this is of course important. GJ GROEP would be pleased to tell you more about your payslip. On this page, we explain, among other things, what it looks like and what the various abbreviations mean.
Explanation of your payslip
If you have worked for different employers, you may have already noticed: not every payslip looks the same. Fundamentally, they are all the same, but every payroll administration works slightly differently. Information can sometimes be in a different place than you are used to or expect. The most interesting figure on your payslip is, of course, your net pay, or the amount you receive in your bank account. This is your gross pay from which all taxes and contributions have been deducted. You will also see all deductions, allowances, any extras such as holiday pay and bonuses, and the payment of taxes and social security contributions on your payslip.
How you receive your payslip
Virtually all companies provide their payslips digitally to their employees. This may mean that you receive them by email, but also that you can view them in an online portal. You will then have personal login details that you do not share with anyone else. Are you starting work with a new employer? Then always ensure that you are aware of how you will receive your payslip. This allows you to check it and alert your employer to any errors.
Checking your payslip: what to look out for
Are you going to check your payslip? Then there are several matters that deserve your attention. You should always check the first payslip you receive from a new employer for your personal details, including your BSN (Citizen Service Number). Every month, check the gross and net pay and whether the deducted contributions and taxes are correct. You can also see any allowances on your payslip, for example, in connection with night shifts or overtime.
What all the abbreviations mean
If you are not familiar with the various terms used in this field, your head may spin when you check your payslip. To help you on your way, we have listed some of the most important abbreviations for you below.
- LH: loonheffing (Payroll tax)
- LHK: loonheffingskorting (Tax credit)
- ZVW: Zorgverzekeringswet (Healthcare Insurance Act)
- ZW: Ziektewet (Sickness Benefits Act)
- WW: Werkloosheidswet (Unemployment Benefit Act)
- WIA: Wet werk en inkomen naar arbeidsvermogen (Work and Income according to Labour Capacity Act)
- WGA: Werkhervatting Gedeeltelijk Arbeidsgeschikten (Return to Work Scheme for the Partially Disabled)
- BT: Bijzonder Tarief (Special Rate)
Are you working as a temporary agency worker? Then there are a number of additional terms you will encounter on your payslip. Here are some abbreviations listed for you:
- Byz.tar %: Bijzonder Tarief (Special Rate %)
- WRM: Werkmaatschappij/loonbedrijf (Operating company/payroll company)
- PNS: Pensioen (Pension)
- IWV: Indicates which country you are a resident of
- DLT%: This shows the percentage of hours you work per week
- OT: Onbepaalde tijd (Indefinite period/Permanent contract)
- Opr: Oproepovereenkomst (On-call contract)
- SAO: Schriftelijke ArbeidsOvereenkomst (Written Employment Contract)
- JUN: JaarUrenNorm (Annual Hours Standard)
- SVW dagen: sociale verzekeringsdagen (Social security days)
- Normale uren: the number of hours you actually worked
- WHK flex/vast: Werkhervattingskas (Return to Work Fund)
As we mentioned, information is not presented in the same way or in the same order on every payslip. So, take your time to look at your payslip and check where you can find all the above abbreviations, your gross pay, and your net pay. Once you have looked at this properly once, it will be much easier to read your payslip in the future.
Payslip example
Do you need a bit more insight into what a payslip looks like? At GJ GROEP, we can always explain it to you personally.
