TERMINAL PAYROLL REPORT
Prepared by: [Your Name], HR
I. Employee Information
Name | Employee ID | Department | Termination Date |
|---|---|---|---|
Emily Smith | 987654 | Marketing | 2054-06-30 |
II. Earnings and Deductions
Description | Amount |
|---|---|
Regular Pay | $4,800 |
Overtime | $600 |
Performance Bonus | $1,200 |
Federal Taxes | -$1,000 |
State Taxes | -$500 |
Retirement Contribution | -$400 |
III. Benefits
Description | Details |
|---|---|
Accrued Vacation Days | 15 days |
Unused Sick Leave | 8 days |
Health Insurance Coverage | Coverage extended for 60 days post-termination |
IV. Final Payments
Description | Amount |
|---|---|
Total Earnings | $6,600 |
Total Deductions | -$1,900 |
Net Payment | $4,700 |
V. Legal Compliance
A. Employment Agreement
The final payment complies with the terms stipulated in Emily Smith's employment agreement, ensuring all obligations regarding final compensation are met according to company policy and employment laws.
B. Tax Compliance
All applicable federal and state taxes have been accurately deducted based on Emily Smith's final earnings, adhering to current tax regulations.
C. Benefits Continuation
Health insurance coverage has been extended for 60 days following Emily Smith's termination, providing her with continued access to healthcare benefits during the transition period.
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