Are you getting ready to apply for a new job or rent a new apartment?
The chances are that you will be asked to show proof of employment as part of the application process. This is a document that shows you have a steady income and can be used for a range of purposes. However, getting one of these is sometimes easier said than done. You also need to make sure that the document you choose contains the required information.
So, let’s take an in-depth look at how to get proof of employment.
Contents
Why You Might Need Proof Of Employment
Verification of Employment is used by banks, mortgage lenders, and a range of other organizations. In many cases, you will only have a very short period to provide the required document. Let’s take a look at the types of information that are required by different parties.
Loan Applications
If you are applying for some type of loan, you need to show that you can cover the monthly payments. Therefore, it is essential to prove that you have a regular monthly income. The document you provide should show how much you receive each month.
Rental Applications
Property owners need to know that you have a steady income so that you can pay the rent on time. They also need to make sure you have enough money to cover the deposit and maintenance costs. The best way to do this is by showing that you are employed and making a reasonable salary.
Refinancing
There can be a lot of hoops to jump through when you are trying to refinance a loan. In addition to other documents, the bank may ask you to show proof of your current earnings. This will be used to determine whether or not you are a credit risk.
Job Applications
Your chances of securing a new job are much higher if you are already employed. This indicates to hiring managers that you are a valuable candidate who is searching for a more advanced role. The hiring manager may want to verify your employment information as part of the standard background check.
Work Visas
When you apply for a work visa in another country, you will usually need to produce an employment verification letter. This letter proves that you have steady employment and have a valid reason for applying for the work visa. The letter should describe the type of work you are doing, your contract, the hours you work, and your salary.
Different Types Of Proof Of Employment
There are five main types of proof that you can present to relevant parties. The type you choose will depend on the exact circumstances. Let’s take a closer look at the different types so you can work out which one you need.
Pay Stubs
This is perhaps the easiest method of confirming your income and showing you have a regular job. Your pay stub shows that you have a job as well as exactly how much money you earn. It will also include other useful information, including:
- Your pay period dates.
- The number of hours you work.
- Your paycheck total.
- The pay period dates.
- The taxes your employer withholds.
If you run your own business or are self-employed, you may not receive regular paychecks. In this case, you can use an app or software program to create your own pay stubs. There are lots of free applications available, such as US Paycheck Paystub Generator. The right program makes it very easy to create pay stubs and store them for when they are needed.
An Employment Verification Letter
Alternatively, you can ask your employer to provide you with a letter. Most employers will be familiar with this type of letter and what it needs to include. They should be happy to create one for you if you ask. This letter needs to feature the official company letterhead. It must state your name, job title, and the date you started working for the company. It also needs to provide details of your monthly salary and when you get paid.
Bank Statements and Tax Returns
If you are self-employed, you can use your bank statements and tax returns as proof of earnings. These show information about payments made to your account and your deposits. They can also show regular payments as proof of income.
Tax returns can also be used to show your income and will feature a list of all your revenue for the year. It is a good idea to provide several tax returns to show ongoing income.
Financial Statements from your Business
This is another good option if you own and run your own company. You can create your own income statements that show all of the required information. This should start by presenting the amount of revenue your business earned in a particular period. You can create statements every month, quarter, or year, depending on your needs.
The income statement also needs to present the total business expenses for the presented period. Once you subtract these expenses from the income, it will be clear how much you earned. You will usually need to create several statements to show consistent income.
Form 1099
This type of tax form can be sent to you if you are a freelance contractor. Each company you provide freelance services for should send you one of these. It will show how much the company paid you for your service throughout that year. If you freelance for several companies, you should keep all your 1099 forms for tax purposes.
The form should state your name and address, as well as your job title at the company you freelance for. It will present your business number or social security number. The form will also show the amount of money you were paid for your services over the previous year.
How To Get Proof of Employment
Some employers may be more willing to provide you with the necessary letter than others. If you work for a large corporation, you may only have contact with your boss occasionally. Here are some methods you can try to get the letter you need.
Ask your supervisor
Your supervisor or manager should be able to write the letter for you. One of the advantages of asking your manager is that they will know all about your employment details. Make sure you explain everything that the letter needs to include.
Reach out to human resources
If your manager or supervisor cannot write the letter, contact the human resources team. Most large companies boast a human resources department that handles all types of employment details. All the information you need should be on file, including the date you were hired and your exact salary.
Ask for a template
Many organizations have specific guidelines for the information the document needs to contain. As a result, they may have a template that you can present to your employer or the human resources team. Getting the organization to give you one helps to make sure they get the information you need.
Once you receive a template, it will probably be easier to write the letter yourself. Then you simply need your manager or a member of the human resources team to sign the letter. Make sure you use the company letterhead when writing the letter to make it an official document.
Contact the Department of Labor
If you currently work for the Department of Labor, the process will be pretty easy. The U.S. Department of Labor uses an automated employment verification service. This service allows current and former employees to get their salary information verified by third parties. All you need to do is get in contact with them.
More On Monthly Earnings
We all need help eventually when we start a new job! So, we’ve put together a few guides for advice, such as How To Get A Pay Stub, as well as how to apply for an Amazon Check Stub and Walmart Paycheck Stubs.
For a more in-depth look, learn more about What Is Gross Monthly Income, including Gross Pay Vs Net Pay and Salary Vs Hourly Pay depending on your current job, followed by How Do I Convert Salary To Hourly To Calculate A Part Time Rate, How To Calculate Holiday Pay, and the Annual Net Income Definition And How To Calculate it in 2023.
Or perhaps you’ve had some trouble with the law and would like to know How To Get Small Business Start Up Loans And Grants For Felons, along with Can A Felon Buy Property?
Finally, in regards to incomes, have you ever wondered about What Percentage Of Americans Are Millionaires? I can tell you it makes for quite an interesting read!
How To Get Proof Of Employment? – Final Thoughts
There are lots of different ways of proving your employment and monthly earnings. Perhaps the easiest way of doing this is by providing pay stubs for the last few months. If you do not receive paper pay stubs, you can usually find them online or request them from the HR department.
It is important to verify the information your proof of employment needs to show. Doing this in advance will save you time and trouble in the long run. Because some organizations need the information quickly, it is best to plan ahead if possible.
All the very best with your applications!