Introduction
Payroll management refers to the process of managing and monitoring the compensation that employees receive for their work. This includes paying employees, maintaining financial records, and ensuring compliance with financial regulations. Payroll management also encompasses the entire structure of a payroll system, detailing the list of employees and the total amount of money a company disburses in wages. It also provides a financial record of employee gross earnings, payroll deductions and net pay, as well as the employer’s related payroll tax liability.
To ensure right calculation of salary and compensation is the major challenges of Payroll Management.
Methodology
Interactive Lecture, PowerPoint Presentation, Question and Answer Session.