Payroll is an important human resources and financial process that involves calculating employee salaries, withholdings for taxes, and distributing payment. It has administrative, legal, human resources, managerial, financial, and macroeconomic dimensions. Implementing an effective payroll system requires collecting employee data, attendance and leave records, salary structures, and tax details; calculating payments; generating reports; and ensuring compliance with changing employment laws.
Payroll service is an end-to-end process wherein the company calculates the employees’ salaries. It lines up the with the employees’ payroll cycle list to be paid, trace of hours worked, calculating the employee’s pay, and ends with recording the payroll expense after adjusting the required deductions like employees’ PF contribution, TDS and meal coupons, etc.
Samarth Associates - Payroll & Labour Law Outsourcingsamarthassociates
We Samarth Associates, hereby introduce us as an Outsourcing firm in below mentioned services:
Labour Law: Registration & Maintenance of various labour law enactments like ESI, PF, Ptax, LWF etc.
Payroll Process: Process & provide the various MIS related to monthly payroll like Cost centre Salary MIS, Payslip etc.
Employee Benefits: Setup of Gratuity Trust and related correspondence, Valuation of Gratuity & Leave Encashment, Framing benefits policy for Company. Providing awareness among employee about various Retiral /death benefits.
Company Registration: Our well qualified CS take part in end to end Company Registration formality.
Tax Benefits: Provide information about various tax planning sources by conducting sessions.
More than any of us may be aware, payroll systems date all the way back to the 14th century. Any company necessity that has that type of tenacity won't pass away very soon. Payroll software, however, makes the procedure simpler and more effective owing to the advancement of technology.
Read more about the payroll services: https://vakilsearch.com/online-payroll-management
If you are a business owner, HR manager, or payroll administrator in India, understanding payroll processing is essential for your business’s smooth operation. From calculating employee salaries to managing taxes and deductions, payroll processing is a critical aspect of any business.
The process of calculating, managing, recording, and analyzing employee’s compensation is called payroll accounting. All the employees of an organization receive their payments through the payroll department. It is the responsibility of payroll accountants to make sure records are filed correctly, so that the employees can receive proper earnings for the work completed and that financial operations are being carried out fluently.
Payroll service is an end-to-end process wherein the company calculates the employees’ salaries. It lines up the with the employees’ payroll cycle list to be paid, trace of hours worked, calculating the employee’s pay, and ends with recording the payroll expense after adjusting the required deductions like employees’ PF contribution, TDS and meal coupons, etc.
Samarth Associates - Payroll & Labour Law Outsourcingsamarthassociates
We Samarth Associates, hereby introduce us as an Outsourcing firm in below mentioned services:
Labour Law: Registration & Maintenance of various labour law enactments like ESI, PF, Ptax, LWF etc.
Payroll Process: Process & provide the various MIS related to monthly payroll like Cost centre Salary MIS, Payslip etc.
Employee Benefits: Setup of Gratuity Trust and related correspondence, Valuation of Gratuity & Leave Encashment, Framing benefits policy for Company. Providing awareness among employee about various Retiral /death benefits.
Company Registration: Our well qualified CS take part in end to end Company Registration formality.
Tax Benefits: Provide information about various tax planning sources by conducting sessions.
More than any of us may be aware, payroll systems date all the way back to the 14th century. Any company necessity that has that type of tenacity won't pass away very soon. Payroll software, however, makes the procedure simpler and more effective owing to the advancement of technology.
Read more about the payroll services: https://vakilsearch.com/online-payroll-management
If you are a business owner, HR manager, or payroll administrator in India, understanding payroll processing is essential for your business’s smooth operation. From calculating employee salaries to managing taxes and deductions, payroll processing is a critical aspect of any business.
The process of calculating, managing, recording, and analyzing employee’s compensation is called payroll accounting. All the employees of an organization receive their payments through the payroll department. It is the responsibility of payroll accountants to make sure records are filed correctly, so that the employees can receive proper earnings for the work completed and that financial operations are being carried out fluently.
April 6th 2013 PAYE in the UK is undergoing its most fundemental change since its inception in the 1940's. Please see our fact shet for more information
Underpayment of wages is not a new phenomenon. However, the recent proliferation of what is being called
wage theft is occurring across a range of occupations, labour market segments and
business models.
Employers who underpay workers could be forced to name and shame themselves with public signs admitting their wage theft as part of industrial relations reforms Attorney-General Christian Porter is considering.
Businesses which fail to prevent wage underpayment could also be banned from hiring migrant workers for a period of time, and company directors disqualified from holding office.
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Quick Checklist for Payroll Compliances in IndiaMYND Solution
Navigating the intricate labyrinth of payroll processing is a daunting task, especially in a country as diverse and complex as India. While the primary objective remains the accurate and timely disbursement of salaries, the backdrop against which this process unfolds is painted with various compliance checkpoints. Ensuring adherence to these is not merely a procedural necessity but is pivotal to the ethical and legal functioning of an organization. In this article, we will offer a comprehensive checklist for payroll compliance in India, providing a roadmap for businesses to ensure they remain on the right side of the law.
Visit: https://www.myndsolution.com/blog/quick-checklist-for-payroll-compliances-in-india/
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2015 is the first year employers can be fined for not complying with the reporting requirements set out by the Affordable Care Act (Obamacare). Get an overview of these new requirements in this eBook
Car Accident Injury Do I Have a Case....Knowyourright
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April 6th 2013 PAYE in the UK is undergoing its most fundemental change since its inception in the 1940's. Please see our fact shet for more information
Underpayment of wages is not a new phenomenon. However, the recent proliferation of what is being called
wage theft is occurring across a range of occupations, labour market segments and
business models.
Employers who underpay workers could be forced to name and shame themselves with public signs admitting their wage theft as part of industrial relations reforms Attorney-General Christian Porter is considering.
Businesses which fail to prevent wage underpayment could also be banned from hiring migrant workers for a period of time, and company directors disqualified from holding office.
– Health care reform
• Play or pay: final rules
• Employer reporting: final rules
• 90-day waiting period: final rules
• Other health care reform updates
– Executive compensation issues
Quick Checklist for Payroll Compliances in IndiaMYND Solution
Navigating the intricate labyrinth of payroll processing is a daunting task, especially in a country as diverse and complex as India. While the primary objective remains the accurate and timely disbursement of salaries, the backdrop against which this process unfolds is painted with various compliance checkpoints. Ensuring adherence to these is not merely a procedural necessity but is pivotal to the ethical and legal functioning of an organization. In this article, we will offer a comprehensive checklist for payroll compliance in India, providing a roadmap for businesses to ensure they remain on the right side of the law.
Visit: https://www.myndsolution.com/blog/quick-checklist-for-payroll-compliances-in-india/
Affordable Care Act: Overview of New Requirements for 2015Sikich LLP
2015 is the first year employers can be fined for not complying with the reporting requirements set out by the Affordable Care Act (Obamacare). Get an overview of these new requirements in this eBook
Car Accident Injury Do I Have a Case....Knowyourright
Every year, thousands of Minnesotans are injured in car accidents. These injuries can be severe – even life-changing. Under Minnesota law, you can pursue compensation through a personal injury lawsuit.
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordinary And Special Businesses And Ordinary And Special Resolutions with Companies (Postal Ballot) Regulations, 2018
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Massimo Talia
This guide aims to provide information on how lawyers will be able to use the opportunities provided by AI tools and how such tools could help the business processes of small firms. Its objective is to provide lawyers with some background to understand what they can and cannot realistically expect from these products. This guide aims to give a reference point for small law practices in the EU
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Matthew Professional CV experienced Government LiaisonMattGardner52
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payroll ppt.ppt
1. 1
PAY ROLL
AN IMPORTANT HR ACTIVITY
A LEGAL REQUIREMENT
A RECORD OF DETAILS OF PAYMENT MADE TO
EMPLOYEES
FACILITATES SMOOTH DISBURSEMENT OF
PAYMENT
SYSTEM DEPENDS ON CO.POLICY
DIFFERS FROM INDUSTRY TO INDUSTRY
LAWS GOVRNING IT IS CHANGING
2. 2
PAY ROLL
Payroll is defined as a method of administrating
employees’ salaries in the organizations. The process
consists of calculation of salaries and tax deductions of the
employees, administrating the retirement benefits and
disbursements of salaries to employees. It can also be
called as an accounts activity which undertakes the salary
administration of employees in the organization.
Administrating the employees’ salaries is not an easy task,
the HR and accounts department work together to
calculate and disburse the salary to the employees. Thus,
payroll management can be further subdivided into two sub
processes, i.e. Payroll accounting and payroll
administration.
3. 3
PAY ROLL
HAS ADMINISTRATIVE DIMENSION
HAS LEGAL DIMENSION
HAS HR DIMENSION
HAS MANAGERIAL DIMENSION
HAS MACRO/NATIONAL DIMENSION
HAS FINANCIAL DIMENSION
4. 4
Payroll Management terms
What is Payroll and how it has been processed?
Payroll is the salary processing system.
Payroll is divided into two parts-Monthly and Annual
Monthly payroll includes the following :
Basic salary
Dearness Allowance
HRA
Conveyance/Petrol
Medical
Education
Telephone
Special allowance
Other Perks
Deductions
5. 5
Payroll Accounting & Payroll
Administration
Payroll Accounting
Payroll accounting involves calculations of employees’
salaries and tax deductions. It also undertakes the activities
such as preparation of tax returns, maintaining the payroll
records, etc.
Payroll Administration
Payroll Administration involves managerial activities such
as maintaining employees’ records, referring employment
laws. Here, the HR comes into picture which maintains the
daily record of employees attendance.
6. 6
Payroll Management
Annual payroll
* Medical Reimbursement - Rs 15,000/- max p.a.
* LTA
* Meal Vouchers - Rs 50 per working day ( Sodexho /Accor )
Payroll can be seen from two aspects. One is from HR side
and other from Finance/Accounts side.
The HR persons process the payroll by means of sending
attendance details or better say LWP details and other
complete details that an employee is going to get in a
particular month.
And after receiving those details the FiananceDept. start
making entry into payroll software
7. 7
Statutes Governing PAY ROLL
Indian Factories Act 1948
Shops and Commercial Establishments Act 1961
Beedi and Cigar Workers (Condition of
Employment) Act 1966.
Plantation Labour Act 1951
Motar Transport Workers Act 1961
Building & Other Construction
Workers ( Regulation of Employment and Conditions of
Service) Act 1996
Inter-State-Migrant Workers (Regulation of Employment &
Conditions of Service) Act 1979
Mines Act
Contract Labour (A & R) Act
EPF & MP Act
ESI Act
8. 8
INITIAL/BASIC STEPS TO
CREATE PAYROLL
An employee data base (i.e.) a Master List to
created which contains all the details of the
employees like, Date of Joining, Education,
Work Experience, Personal details (DOB,
Contact info), Salary break up details
Attendance/ Leave record details
9. 9
OTHER RELATED INPUTS FOR
PAYROLL
The salary break up details of all the existing employees
Employee Bank account No./PAN No.if any
Attendance of all employees:: LOP details
Salary Revision (w.e.f that particular month)
New Recruits (To be calculated form the date of Joining)
Full and final Settlements (If any are to be calculated separately not with
payroll)
Additions-Arrears if anything to be paid, Reimbursements
Deductions-
Provident Fund, ESI, Professional Tax, Income Tax, LIC
LOP, Loans/Advances, Other recoveries, Miscellaneous
TDS
10. 10
Payroll Generation
Payroll generation depends totally on number of days in month. Say
Feb (28 days). Total salary package will be paid accordingly, but while
deducting a LWP it would be calculated on basis of 28 days.
Thus it’s irrespective of any number of holidays etc.
The Industrial Employment (Standing Orders) Act, 1946 (Ref. model
Standing Order) the salary should be calculated on 30days for Monthly
rated employee and 26days for daily rated employee, to maintain the
constant PF deductions & LOP of an employee
As per government norms 26 days are calculated for salary in every
month, there is no partiality to the workers like skilled or semi skilled or
clerical job the role applicable to all, but some of the private concerns
follow 30 or 31 days for their own benefit. 26 days are consider salary
calculation period. It is 30 days irrespective of the Sundays and
holidays for monthly wages and 26 days for daily wages.
11. 11
MAJOR INTERFACING MODULES
OF PAYROLL MANAGEMENT
SYSTEM
EMOPLOYEE PROFILE
LEAVE
TIME & ATTENDANCE
TDS/INCOME TAX
TDS, P.TAX, ESI AND PF REPORTS
12. 12
PAYROLL IMPLEMENATION STEPS
Step 1 :- Pre-requisite before taking up the payroll
process work
-The purpose behind the re-engineering process of
the entire payroll-l
-To suggest bottle necks and improvements
-To clearly UNDERSTAND the expectations the
scope of the payroll processing
-There will be trial run for a month to ensure that we are
in line with the
- Expectations.
13. 13
PAYROLL IMPLEMENATION STEPS
Step 2 :-Adherence to the corporate policy
- Ensure that procedures are in place to maintain the records of Corporate
policies related to pay roll at regular intervals.
- Ensure that proper effect to the pay roll is given in accordance with the
Policy guidelines defined by the Company
- Understand the salary components in terms of fixed and variable.
- Understand the benefits available to employees on monthly and yearly
basis.
- Understand local laws and compliance of the same related to payroll
process.
- Receiving job details along with job code allocation. The job code
allocation is to be given according to the type of the job description.
14. 14
PAYROLL IMPLEMENATION STEPS
Step 3
- Collecting time sheets with attendance sheets
If the on line system is maintained, then it will ensure automatic checking with
the attendance register and time sheets. Otherwise the attendance sheets and
the time sheets are to be compared manually.
15. 15
PAYROLL IMPLEMENATION STEPS
Step 4- Receiving details
- Terms of appointment, Attendance details Receiving details of salary structure,
- Promotion-Changes of Grade, Salary Structure, Department etc. will be
initiated in case of promotion on the basis of the information received from
personnel department.
- Increment- The increment letter of an employee is to be collected and
necessary changes are to be incorporated in the system.
- Confirmation: Confirmation letters are to be collected & necessary changes
are to be incorporated in the system.
- Details of disciplinary action taken- if it has any effect on salary, the same to
be incorporated in the system.
- Resignation- The final settlement is to be disbursed, based on the notice
period and in consultation with the Finance Department
- Retirement- can be normal or voluntary. Accordingly the final settlement is to
be made.
16. 16
PAYROLL IMPLEMENATION STEPS
Step 5 -UPDATING SALARY DETAILS
- The terms of appointment
- Salary Structure
- Annual benefits
- Attendance details
- Overtime details
- The details of reimbursement
- The promotion, increment and confirmation details
- The details of departmental transfers
- The details of resignation, retirement and retrenchment
- The employee advance position
17. 17
PAYROLL IMPLEMENATION STEPS
Step 6- GENERATION OF REPORTS FOR CHECKING-
- Salary register
- Variance Report
Step 7 -RECTIFICATION OF MISTAKES/CORRECTIONS /
MODIFICATION
Step 8 -GENERATION OF REPORTS
- Salary register (Monthly)
- Pay slips
- Advance register
- Bank Statement
- Other deductions and allowance statement
Step 9-MIS REPORTS-As per Management’s requirements and
Reports to comply with local authorities, if any.