Struggling to Recall Payroll Details? Can Someone Share a Sample?

Dear all members,

I cannot remember the points we have learned about payroll. Can anyone provide me with a sample?

Regards,
Rose

Hi Rose,

Can you tell me what exactly you require so that I can help you out?

Regards,
Gaurav Vedak
9821880012

Which department do you serve? Payroll process involves communication between various departments. Depending on this, your question can be answered appropriately.

Thank you for your help. I am involved in the payroll system, and my boss wants me to provide 10 points about what I'm learning regarding the payroll system, especially about the pay timer system.

Thank you, Mr. Nihar. How about this:

1. Improving payroll processing efficiency drives down operational costs.
2. Providing systematic tracking of employee inquiries and cases.
3. Ensuring systems are set up and updated to reflect our current employee base, including wages, benefits, sick leave, and other leaves.
4. Ensuring the processing of new hires and transfers is accurate and timely.

Hi everybody,

The complete payroll system is based on the organization's norms and regulations, but most organizations will include:

- Basic pay
- HRA
- ESI
- PF
- Other deductions
- Overtime, etc.

By payroll timer, I presume you mean payroll activity timer, also known as a dashboard. This enlists the activities performed as part of the payroll process, e.g., receiving payroll inputs, preparing a report, advising/mailing to some other relevant department, etc., for the entire payroll cycle (typically spanning a month). It also enlists the start date, end date, and volumes for each activity for audit/tracking purposes. Finally, optionally, it may specify the activity owner (i.e., who performs that activity). Optionally, you could also create a Gantt chart representing the process timelines.

I have attached a sample for your reference (activity names masked). Hope it helps.

Regards,
Joshua.

Yes, Rose,

I agree with your points. I would like to add that various software options are now available for the payroll system. You can try Adrenalin or Payman, etc., based on your requirements.

Regards,

SAP is still better. We have implemented it in our organization, but it is more suitable for bigger ones. For smaller organizations, other options will perform well too as they are efficient and cost-effective.

Regards,

Key Points to Learn in Payroll

You have to learn the following 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.

Regards,
Manju
From Bangalore

If you are an employee of an MNC company and in charge of payroll, first, please 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's sake, then take note of these:

Study HR Policy

You should study the HR policy, especially the number of employees, salary structure individually, components of salary, and nature of deductions. Also, you should conduct a system study in order to finalize what should be the hardware, operating system, platform, and programming language, and have them documented properly with the help of software consultants.

Organize Time Office

Once the above are finalized, you have to organize the time office, linking its systems and attendance records. Have a test run and check all parameters to ensure they are working fine for accuracy. These tasks are to be handled by professionals and experienced individuals.