Terminal Payroll Report

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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