0
Q:

What are the activities present in payroll task? 

Answer:
Q:

What is retropay?

Answer

It is a process that recaculates the amount to pay an employess in the current period to account for retrospective changes that occurred in previous payroll periods.

Report Error

View answer Workspace Report Error Discuss

0 401
Q:

How higher management in an organization gets benefited by payroll reports?

Answer

Payroll reports gives information about the total 'cost to Company' for the Employee Salary, Benefits (Cash and Non-Cash), Taxes, Total Hours worked. 


All these information is helpful for the Management decisions.

Report Error

View answer Workspace Report Error Discuss

1 369
Q:

What is salary TDS?

Answer

Means whatever income any employee received from the organisation and on that tax to be deducted. (e.g. Gross salary, Overtime, Bonus, Incentives etc.)

Report Error

View answer Workspace Report Error Discuss

0 433
Q:

what is the job description of a payroll officer?

Answer

1. Collection of attendance / collation of attendance


2. Scrutunizing the received attendance 


3. Calculating the salary as per the attendance, based on LOP received


4. Once the Payroll Processing is over, the gross salary should be checked with Master Data of salary.


5. Netpay has to request for bank transfers / cheque 


6. Need to take care of statutories like PF / ESI / PT / Income Tax


7. While processing salary, statutory deductions like PF / ESIC / PT and income tax calculations tobe taken care.


8. Arriving the salary structure for New Joiners


9. F&F tobe done for resigned employees


10. PF & ESI Nomination has to take care for the new joiners


11. PF Settlement / PF transfer has to take care for the resigned employees after 60days from the date of resignation.

Report Error

View answer Workspace Report Error Discuss

1 309
Q:

What is the difference between paycheck and payslip?

Answer

Paycheck - this is the method by which the Employee is paid (A Bank Check/Cheque or Direct Deposit to Bank)


Payslip - Also called as Pay Stub is the paper which will typically detail the gross income and all taxes and any other deductions such as retirement plan contributions, insurances, garnishments, or charitable contributions taken out of the gross amount to arrive at the final net amount of the pay, also including the year to date totals in some circumstances.

Report Error

View answer Workspace Report Error Discuss

0 633