Can anyone please brief me on the HR Payroll process? What are the job responsibilities involved in it? I've searched for the same, but I'm a bit confused. Another question is - do firms use software for the entire payroll process, or is some part of the payroll done on Excel? Could you please tell me the name of the payroll software where I can practice payroll activities (the entire process) with raw data?
Thanks and Regards,
Sumit
From India
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1Thanks and Regards,
Sumit
From India
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The payroll process starts from attendance and leave data merging with payroll. Then one should consider:
1. LWP
2. Loan and Advance Deductions
3. Tax Deduction
4. Reimbursement Addition
5. ESI, PF, and P.Tax Calculations
6. Miscellaneous Deductions (Subsidized Food, Transport, Accommodation, Insurance, etc.)
7. Increment Updation (if increments are done on a monthly basis)
8. New Joining Addition
9. F & F of Left employees
10. Arrears consideration
These are a few common activities of the payroll process.
Regards
From India, Kota
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1. LWP
2. Loan and Advance Deductions
3. Tax Deduction
4. Reimbursement Addition
5. ESI, PF, and P.Tax Calculations
6. Miscellaneous Deductions (Subsidized Food, Transport, Accommodation, Insurance, etc.)
7. Increment Updation (if increments are done on a monthly basis)
8. New Joining Addition
9. F & F of Left employees
10. Arrears consideration
These are a few common activities of the payroll process.
Regards
From India, Kota
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I'm familiar and comfortable with all the payroll parts you mentioned in the reply, except for loan and advance deductions. As the firm I worked with was very small, with hardly 30 employees, and my profile wasn't in HR payroll or generalist roles, I was confused with this payroll term. Could you please brief me about loan and advance deductions, how to calculate them, and what percentage is involved?
Thanks and Regards,
Sumit Sharma
From India
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Thanks and Regards,
Sumit Sharma
From India
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