HR Payroll

Payroll is a system by which employers pay an employee for the work they have done. Any business with employees should have a confirmed payroll. Although, payroll seems like a mundane task but it involves various features like balancing and reconciling payroll data, depositing and reporting taxes.

The payroll department is responsible for wage deductions, record keeping and checking the reliability of pay data. The payroll department distributes payroll checks, maintains compliance with tax laws, records paperwork for new employees and edits current employee files.

Payroll is mainly two parts of a company’s budget. It is the total package of pay and benefits of the company’s personnel as a whole. Additionally, payroll means the literal act of making payments to company’s employees during the company’s pay period which maybe weekly, bi-weekly, monthly or even yearly.

The payroll specialist handles the implementation of the payments for and benefits to each and every employee of the company. This involves both enrolling and new and present employees into their particular benefit programs such as insurance etc. The tasks of a payroll specialist include handling the time cards, calculation of pay and issuing the checks to each employee.

The HR payroll professional needs to work in several different areas including taxable benefits, employee setups, base pay reviews, bonus payments, over-payments, vacations and statutory holidays, leaves of absence, year ending reports etc.

The HR payroll specialist is responsible for processing an organization’s payroll in a timely and correct manner, producing and maintaining employee’s payroll records, calculating wages and applicable deductions based on attendance and timesheet records of the employees, entering information related to payroll in the central system for processing and various such tasks.