Blog-Emergence of Online Payslips
Why does the world need to shift towards E-payslips? With every passing day, we are advancing in technology. This brings changes in our lifestyle and working habits as well. This blog tells why digital payslip is one such change that both employers and employees need to accept at the earliest. If we go back to the basics, payslips were introduced into the corporate world so that employees can keep a detailed track of their earnings. And gradually, it became an evident proof of an individual's income, which is now required by many financial organizations to issue loans, mortgage etc. In fact, under the section 8 of the Employment Rights Act 1996 , it is stated that every employer has the legal obligation to supply payslips to their employees every time they pay them. This made every big and small organization operating in the world to churn out billions of payslips every month. It led to the enormous increase in paper production over the decades, i.e. about 52 times ...