Hi friends,
Could anybody help me with the complete system of Payroll in organizations? What are the things that come under payroll? What should be focused on more while calculating an employee's payroll? And many more. Please suggest to me. This could help in my upcoming interview and practical work in the workplace.
From India, Hyderabad
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Could anybody help me with the complete system of Payroll in organizations? What are the things that come under payroll? What should be focused on more while calculating an employee's payroll? And many more. Please suggest to me. This could help in my upcoming interview and practical work in the workplace.
From India, Hyderabad
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Hi Sachin,
To answer your query on Payroll, please note the following points:
a. Payroll is nothing but the salaries/breakups of the employees in the organization.
b. Payroll will consist of (normally) the Employee Code/Number, Name, Date of joining, Number of days worked (30 or 31 depending on the month) + Basic Salary + allowances (depending on the number of components) = Gross Salary.
c. From the Gross salary, there will be deductions ranging from the statutory deductions like PF, ESI where applicable, Profession Tax, Income Tax where applicable, Loan taken by the employee (this is internal) = NET SALARY.
This is what payroll is all about in simple language. In fact, a senior member on this site, Mr. Rajat Joshi, has answered this in a more elaborate way to another person who had the same query as you. Just click on the forum "Talk to Seniors" and you will find the answer that you are looking for. Since I am not based in the country, there might be certain deduction slabs which you might need to know also, but I hope this information helps you out on your interview. All the very best to you and God Bless! 😊
Regards,
Sadashiv Rao
From Kuwait, Kuwait
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6To answer your query on Payroll, please note the following points:
a. Payroll is nothing but the salaries/breakups of the employees in the organization.
b. Payroll will consist of (normally) the Employee Code/Number, Name, Date of joining, Number of days worked (30 or 31 depending on the month) + Basic Salary + allowances (depending on the number of components) = Gross Salary.
c. From the Gross salary, there will be deductions ranging from the statutory deductions like PF, ESI where applicable, Profession Tax, Income Tax where applicable, Loan taken by the employee (this is internal) = NET SALARY.
This is what payroll is all about in simple language. In fact, a senior member on this site, Mr. Rajat Joshi, has answered this in a more elaborate way to another person who had the same query as you. Just click on the forum "Talk to Seniors" and you will find the answer that you are looking for. Since I am not based in the country, there might be certain deduction slabs which you might need to know also, but I hope this information helps you out on your interview. All the very best to you and God Bless! 😊
Regards,
Sadashiv Rao
From Kuwait, Kuwait
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Payroll Management System .pdf
Payroll.xls
Payroll.doc