How to initiate payroll process in a company if it’s payroll date is the last working day of the month?
From India, Gurgaon
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From India, Gurgaon
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Hi, in that case, salary processing would take time, and there will be a delay in salary credit. Hence, to avoid it, you need to have an early cutoff date like the 21st or so. In this case, any leave availed after the 21st will reflect in the salary cycle. However, the employee's salary needs to be processed for the full month.
From India, Madras
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1015From India, Madras
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Hello. Usually, salary days will be from the 1st to the 30th/31st of every month. To process payroll, working day attendances are to be kept ready until the 30th or 31st for each employee.
Updating Attendance Records
If attendances are manual in a notebook, you need to update attendances in an Excel sheet day-wise or week-wise. In such a way, you need to have 30 days of working day attendances ready on the 31st of the month. Then on the last day, you can update only the 31st attendance and get the total working days in Excel.
Smooth Payroll Processing
This process allows you to smoothly process payroll on the last day. You need to make arrangements to receive attendance data every day from respective departments, hold pays at the end of the month, and correct suggestions from every department head, etc.
Handling Large Staff Numbers
This process also depends on the number of staff. If it's more than 500 or 1000, manual attendance is difficult. You should follow the same process, except for preparing attendance working days using biometric systems in payroll software. It can be done.
Alternative Salary Processing Period
The second choice is to consider taking working days for the salary process from the 26th of the previous month to the 25th of the current month, despite the usual 01st-30th or 31st range. However, you may face issues like PF and ESIC calculations. The better approach is the first choice.
Hope it's clear. All the best. Thank you.
From India, Selam
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Updating Attendance Records
If attendances are manual in a notebook, you need to update attendances in an Excel sheet day-wise or week-wise. In such a way, you need to have 30 days of working day attendances ready on the 31st of the month. Then on the last day, you can update only the 31st attendance and get the total working days in Excel.
Smooth Payroll Processing
This process allows you to smoothly process payroll on the last day. You need to make arrangements to receive attendance data every day from respective departments, hold pays at the end of the month, and correct suggestions from every department head, etc.
Handling Large Staff Numbers
This process also depends on the number of staff. If it's more than 500 or 1000, manual attendance is difficult. You should follow the same process, except for preparing attendance working days using biometric systems in payroll software. It can be done.
Alternative Salary Processing Period
The second choice is to consider taking working days for the salary process from the 26th of the previous month to the 25th of the current month, despite the usual 01st-30th or 31st range. However, you may face issues like PF and ESIC calculations. The better approach is the first choice.
Hope it's clear. All the best. Thank you.
From India, Selam
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