Payroll System - India
The payroll system is all the compensation that a business must pay to its employees on a given date or for a specified period of time. Traditionally, the payroll is handled by the accounting or human resources departments of an enterprise. When a small business is involved in payroll management, the payroll is generally managed directly by the company's owner or an associate. The process of processing payroll Systems by specialized firms is increasingly being outsourced, as well as the administration of employee benefits and insurance, and financial management, such as tax deductions. The payroll is also referred to as the list of employees at a company, as well as the amount of compensation that each employee is entitled to receive. A high cost that is almost always deductible, meaning that the price can be excluded from gross profits in order to reduce a company's tax burden, is a typical case for most companies. In order to make payroll more accurate, overtime, sick leave, ...