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A Project Management Professional Payslip is a summary of all the earnings and deductions issued by the employer to his employees on weekly or monthly basis under the guidance of HM Revenue and Customs. As per HMRC directives, under The Payment of Wages Act 1991, every employer must give all the employees a right to a payslip mentioning the details of gross salary and the relevant deductions. However, the PMP payslip stands out ahead in terms of the available credentials named The Project Management Professional Certification provided by the Project Management Institute. Now days this certification gets much popular in the corporates demanding the project managers who are PMP certified.

The PMP Payslip is hence one of the most trusted and authentic salary waging statement among all the other online and offline salary statements.

How to View the Payslip Online

Since all employees are essentially been provided a detailed payslip, however, it usually do not apply to independent employees like a contractor or a freelancer. Generally a PMP payslip is issued to the employee via email or can be retrieved through the official website. Just following few simple steps one could easily generate the payslip:

  • Firstly, log on to the official website by mentioning the user ID and password.
  • This will open the introductory page of the payslip generation,
  • On clicking the above tab the profile page of the user, comprising the relevant options to be clicked,
  • Then on clicking the payslip tab, it will be screened with other essential informational tabs if needed to be known.
  • Following all the sequential instructions one could easily generate the PMP payslip.

Format & Essential Components of PMP Payslip

Format & Essential Components of PMP Payslip

The format of this payslip though varies as per company’s guidelines too chiefly comprising individual’s earnings, perks/allowances and deductions, which are further segregated into basic salary, leave travel and medical allowance and deductions like income tax and other professional tax etc. Also some major prospects are essentially formatted in the PMP payslip:

  • Gross Pay calculated before any tax or National Insurance at first including any bonuses and commission.
  • Variable Deductions that could change on every day pay basis. A total amount of this should be mentioned. This includes tax and National Insurance.
  • Fixed Deductions are generally independent from everyday pay and also not needed to explain and describe by the employer as such deductions are also provided with a separate statement as per the company policies.
  • The total amount of gross remuneration referred as the Net Pay issued after all the deductions made.
  • Amount and method for any portioned payment is mentioned afterwards. This column includes the amount figured to be paid in either cash or advance and the rest will be credited to the official bank account.

Furthermore other additional information can also be spotted on the PMP payslip, making it more trustworthy and authentic:

  • Tax code of the employee specific at which he/she are taxed. This tax code is directly sent by HMRC;
  • National Insurance Number (NI) certifies the eligibility of an employee to work in UK. This also supports to build up the entitlements like pension as future endeavors.
  • Payroll Number can also be generated as an identification of an employee;
  • Extra expense (taxable or nontaxable) if owned during the period viz., lunches travel cost etc.
  • Additional payments such as overtime, commissions, bonuses and other are also mentioned in the payslip included in the gross pay figure.
  • Pensionable amount is also declared in the slip if the employee is paying towards a workplace pension, which will benefit the employee later.
  • Student loan repayment is also mentioned in the payslip if been made previous.

Other than that many maintenance charges or deductions could too incorporated if any employee entitled for viz., child maintenance, sick pay, maternity, paternity or adoption pay and other.

PMP Payslip – Its Benefits

Since the PMP payslip is an authentic financial document screening the gross earnings of the employee, hence it also facilitates with many other positive aspects to the employees:

  • PMP payslip is an authentic and legally certified statement which ensures the certainty of wages process in an assured way. This statement is quite fair and reasonable in process.
  • The data is too secured of every employee who can be generated at any time of requirement and hence no one needs to worry about keeping all the records.
  • The PMP payslip also works as an evidence of a regular employment of an individual which can also present as a supporting statement in financial institutions like banks, mortgage and others.
  • This payslip supports the financial benefits to an individual more accurately and speedily than a self-employed or a freelancer.
  • Above all the PMP credential generates the payslip which helps an individual to switch to much better career, as this certifies the superfluous professional skills and competence of the employee.

Scrutinizing PMP Payslip

Though this payslip ensures to be a secured statement yet need to keep a regular check would make it more secure. The regular check will help to tally and cross verification with the bank statements and also to match the figures shown in form P60 at the end of the tax year with the figures as mentioned in the payslip.

If anyone too found an unauthorized deduction from the wages then the complaint against it could also be marked to Workplace Relation Commission (WRC) as directed by Payment of Wages Act 1991 under HMRC. The complaint must be filed within 6 months of the date of such deductions.

Conclusion

The Project Management Professional (PMP) is an internationally recognized professional designation and hence the wage statements also standardized the up to mark salary distribution along with the justified tax deductions under the legal directives set by HMRC makes an exception with the other offered general payslips. The PMP ensure the employees to have their earnings with a secure and legitimate process.

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