PAYROLL MANAGEMENT
PAYROLL MANAGEMENT
Payroll Management is the administration of the financial record of employees' salaries, wages, bonuses, net pay and deductions. It could be a headache for employers as it is complex and time-consuming to do it right. It also covers how to withhold taxes from paychecks and make sure taxes are paid to the correct departments.
What does it cover?
Payroll outsourcing services or employee outsourcing service cover the following areas:
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Contract Outsourcing Service and Contract Staffing Management
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HR Payroll Outsourcing and HR Outsourcing
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Salary processing
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Application, submission and processing of government training
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Organization pay policy construction
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Payslip components definition (basic, HRA, LTA etc.)
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If payroll mistakes happen, the irregularities will affect the morale of the employees and ultimately affect the business productivity tremendously.
