 Pay Stubs What is a pay stub? A pay stub is a record of hours worked, taxes paid, other deductions, sick, and vacation leave. Example pay stub. Pay stubs will look a little different, but the same basic information is there. Pay period. Pay periods can be one week, two weeks, or one month. Hours. Forty hours a week is full time. Less than 40 hours is regular hours. More than 40 hours is called overtime. Income. Gross income or pay is the total money you are paid. Net pay is the total after deductions. Social security and Medicare. Social security and Medicare are common deductions. Social security is also called OASI. Taxes. Everyone pays federal income tax. Some states do not have income tax. Leave. Some jobs give workers paid days for sick leave and vacation time. Insurance. Some jobs pay for health or medical insurance and life insurance, which pays money to the family if the worker dies.