Yes Rose,
I agree with your points.
I would like to add to this that various softwares are available now for the payroll system.
You can try Adrenalin or Payman etc. as per your requirements.

From India, Indore
SAP is still better. We have implementedin our organisation, but it is for bigger ones. For smaller ones, others will do well as they are efficient, but cost effective . regards,
From India, Indore
Dear Rose
you have to learn below points
1. CTC structure
2. FBP (Reimbursement calculation)
3. Full and Final Settlements.
4 salary revision
5. Please read company CKM
6. LOP
7. Leave calculation, LOPR, earnings and deduction calculation, etc.
From Bangalore

From India, Bangalore
It imperative to learn about the mistakes to be mitigated. Here's an article from CiteMan, that focuses on what these mistakes are and how can they be corrected. The discussion in the comment section adds on to further learning.
Payroll process and its errors <link updated to site home> ( Search On Cite | Search On Google )

From India, Mumbai
Dear HR Expert , Please share me the details of Payroll Processing matter step by step for any MNC company. Regards, Riddhiman Mukherjee
From India, Kolkata
Hi Riddhiman,
If you are an employee of a MNC co. and i/c of Payroll first pl.check, I am sure they will have HR policies and Payroll software/package, if yes you should study them as they will prefer to adopt the same here. If you wish to know the details for knowledge sake then you note these -
You should study the HR policy, especially, no.of employees, salary structure individually, components of salary, nature of deductions. Also you should conduct a system study' into order to finalise as what should be the hardwares, OS, platform, and programme/language, and have them documented properly with the help of SW consultants.
Once the above are finalised you have to organise time office, linking its systems and attendance records. Have a test run and check all parameters are working fine for accuracy. These are to be handled by professionals and experienced persons.

From India, Bangalore

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