I worked a few weeks for an inventory specialist company. I was informed that they had payroll issues, so I reviewed my paycheck to avoid being scammed. They had scammed me out of 4 hours of work. After repairing it, they gave me 43 hours of overtime and 29 hours travel on a week I only had 36 hours of work total with 4 hours traveling.
I realized I had sustained an overpaid paycheck. I informed my employer of the situation and paid them back the money they claimed to owe.
Have you received an overpaid paycheck? Are you contemplating on keeping the money? Do you hate your employer? Regardless, you should return your paycheck. Here are some short-term and long-term reasons for returning an overpaid paycheck.
Return an overpaid paycheck to avoid a hazy conscience. Don’t spend it in beliefs that you’re going to return it or you’re never going to be questioned about it (they could find out when they’re completing their books for the end of the year).
Don’t assume that your employer is ignorant about the overpaid paycheck. If they catch it within five days, they have the legal rights to retrieve it from your bank account without your consent. Your employer can also deduct future paychecks until the overpayment has been made up.
If you establish no communication with your employer, then your employer will feel no right to establish any consent with you. You don’t want to be in a position where your employer subtracted money from your account or paycheck unexpectedly because it may leave you in an upcoming financial crisis.
Don’t spend the funds on luxurious materials that you wouldn’t have bought without the extra funds!
Prevent employer disputes
You’re employer may be a fool for having overpaid you, but they’ll come after that $50 once they realize the error. If you resign from your job shortly after the payroll mishap, do you want your employer harassing you months afterward?
You should return an overpaid paycheck to avoid collection agencies
An employer may turn their matter over to the collection agencies. You’ll be dealing with the credit agencies that are persuading you to return the money. This can also put a negative emphasis toward your credit rating if you find yourself unable to make the payments.
You should return an overpaid paycheck to brag about honesty
What better way to brag about yourself then to tell future employers about your trait of honesty? If you return money from an overpaid paycheck, then you can discuss your deed to future employers in displaying yourself as an honest individual who puts the business first.
Liz Pulliam Weston, “Bank error in your favor? Your problem.” MSN. Aug 27, 2007. June 9, 2010.