Understanding your payslip
A payslip is a legal record of what you earned and what was taken off. Reading it properly catches errors, and it is also the document a lender compares against your bank statements.
Gross pay is your earnings before anything is deducted. Net pay is what reaches your bank account, and it is the figure a lender works from because it is what appears on your statements.
PAYE is income tax deducted at source. UIF is your unemployment insurance contribution — a small percentage, and the thing that entitles you to claim if you lose the job.
Then look at everything else: pension or provident fund, medical aid, union dues, garnishee deductions, employer loans. Each should be something you agreed to or a court ordered. An unexplained deduction is worth querying immediately.
Check the payslip against your bank statement each month. A discrepancy is either an error or something you were not told about, and both matter.
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Page last checked 10 August 2026. Statutory caps and lender terms change — confirm anything you intend to rely on with the provider or the National Credit Regulator. Found something wrong? Tell us and we will correct it.