When it comes to distributing weekly, biweekly, or monthly wages, the pay envelopes are the most efficient solution. They provide the employees with secure information and details of their pay, are not expensive, and are very cost-efficient as they serve as a document that wraps into an envelope as well, so there is no need to buy separate envelopes. Here is more about them.
Benefits of Pay Envelopes
The benefits are: secure and confidential distribution of the pay and pay details, less paper waste, and exclusively available only to the employee. They are designed with a safety hatching area that covers the details of the private nature of the employee, and no one from the outside can see the information. The eco-friendly factor is another great benefit because by using pay envelopes, no extra paper is wasted for separate envelopes.
Types of Pay Envelopes
Regarding their way of sealing, the pay envelopes can be self-seal, peel and seal and pressure seal. The first type is easily sealed on its own, the second has adhesive, and a paper stripe over the adhesive that needs to be removed to seal the envelope, and the third one is sealed with the help of a sealing machine.
All of them eliminate the need for sticking address labels on them, so this is another huge benefit regarding costs and efficiency.
When it comes to the way they are printed, there are two types: A4 laser pay envelopes and continuous pay envelopes.
The A4 laser pay envelopes need a software package such as MYOB, Attache, Quicken, or Rockfast in order to be printed in the parameters of the security hatching area. They are easily printed in a laser or inkjet printer or photocopier.
The continuous pay envelopes are used with dot matrix printers and can be generic forms suitable for every software package or specifically designed to be used with a particular software package.
No tampering can be done that can go unnoticed, making them a safe way of distributing pay.
What information is included in the pay envelopes?
Starting with the general information such as the name and address of the employee, the pay envelopes are a comprehensive system of personal data. Then, the name of the job position, the period for which they are paid, and the total salary or wages of the week/two weeks or month. If there are any deductions, they are included and calculated, and if there are overtime hours, they are calculated as well. The number of ordinary and overtime hours that the employee worked for the past payment period is included as well.
There are all the taxes that are included in the payment scheme, including rates for pension, insurance, and other important costs. Some of the information must be included in the pay envelope, as it is required by law, and others are voluntary includes by the employer. All in all, they all give a complete picture of the employee’s payment condition.
The Bottom Line
The pay envelopes are personal, tangible, and, above all, a secure way of distributing pay details to the employees. They are also cost-efficient and environmentally friendly. No wonder they are the top choice of employers when it comes to providing the employees with all the necessary information about their salary.