Payroll [Thread 367259]

i want to know the exact meaning of payroll.can anyone one tell me what is payroll system?please explain me with suitable example

Payroll is the total financial records of salary for an employee, wages, bonuses maybe incentives, PIT, insurance fee (it's up to insurance law of each country) and deduction. As my knowledge, payroll is related to all sum of money that company pays for staff each month. After receiving monthly payslip, staff should read carefully and check it, if there's something incorrect, they must inform HR department ASAP.

Payroll can be defined as account of the amount required to pay employees during each payroll cycle for their efforts and skills; and also deduction on basis of various compliance (PF, ESI, Insurance and Taxes)

Dear Sir,
just now our company got pf registration. how we calculate the pay roll process like basic, hrd,other allowances, Epf, Esi. pls send me the format.
Thanks
Bhuvana

subject-re:payroll
Dear Sir,
Just now i joined as a accountant. i want to know how will prepare pay slips each and transaction with persentange for every item(basic, hra, pf, epf, esi, other allowances,)
thanks
adarsh kumar

Dear Mr.Adarsh,
Congratulations for your joining.
Please note that prior to calculate the salary or spliting up of components you must know fallowing things.
Salary contains
1 Basic Salary
2 V.D.A / D.A / Special Allowances
3 HRA
4 Convence
5 Medical Allowance as part of salray not reimbursment
6 Education Allowance.
7 Washing Allowances
8 Techinical Suppliements.
For above 1,2,3 you must pay as Minimum Wage and Minimum HRA @5%.
Reset components can be chaged as per tax applicablity.
For Calculation of P.F it will be 12 Employee Contribution and 13.61 Employer contribution in various accounts.
For ESIC You have to pay on Gross Salary i.e salary before deductions.
Regarding exact meaning of Payroll is Salary details on roll.
Regards,
Nilesh Kumar Harge

Employee is not permanent ,he is on payroll, means??
And employee will be paid by third party ,means??

Dear Rachana,
Employees on casual duties or Casual employees on daily wages are not on Payroll.These are the employees to whom, you do not issue appointment letters. Most of unskilled and temporary/ non routine jobs are done by casual workers.We sometimes call them as NMR employees (Not on Muster Roll) . Casual worker may be appointed thru a labour contractor and in such cases, wages of the casual workers will be paid by the contractor and we will make payment to contractor, as per our contract terms with him.
When we appoint a person and issue appointment letter, he will become a regular employee, whse name will appear in Payroll.he will not be a permanent employee, till his services are confirmed. Once confirmed, he will be referred as permanent employee.

Dear Sir,
Our company starts jan 2011 only, so md will decide to give bonus to all the staffs, so how can i calculate bonus from their salary,kindly show example but we didn't calculate salary like basic hr others, we will pay salary only. & just now we register for pf then only we will go for further procedure. so what will i suggest to our md.
And kindly send me the accounting voucher format.

We have conducted a 4 day (8 hour program- daily 2 hours-evening 4 pm to 6 pm) certificate course in payroll management at hyderabad during may 2011. We can repeat this course in future, if we have at least 10 trainees willing to undergo training at fapcci's premises at hyderabad. Interested may contact me.
Jr kumar,
faculty director
fapcci hyd
mobile 9885921599