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| Payroll Management |
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Payroll is defined as a
method of administrating
employees’ salaries in the
organizations. The process
consists of calculation of
salaries and tax deductions
of the employees,
administrating the
retirement benefits and
disbursements of salaries to
employees. It can also be
called as an accounts
activity which undertakes
the salary administration of
employees in the
organization.
Administrating the
employees’ salaries is not
an easy task, the HR and
accounts department work
together to calculate and
disburse the salary to the
employees. Thus, payroll
management can be further
subdivided into two sub
processes, i.e. Payroll
accounting and payroll
administration.
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Payroll Accounting |
Payroll accounting involves
calculations of employees’
salaries and tax deductions.
It also undertakes the
activities such as
preparation of tax returns,
maintaining the payroll
records, etc.
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Payroll Administration |
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Payroll Administration
involves managerial
activities such as
maintaining employees’
records, referring
employment laws. Here, the
HR comes into picture which
maintains the daily record
if employees attendance. |
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