Managing and managing an individual's time and attendance to prepare payroll manually is a very difficult and time-consuming process. Paysquare has made this process easy. Many companies have trusted us more and more over the past 15 years to calculate their employees' salaries accurately and quickly. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original EssayOrientation of not only existing employees but also new employees should be handled effectively. Make an effort to understand that each employee is a different, distinct person (often with very different job responsibilities), so a one-size-fits-all approach won't work either. Although most employees will receive almost the same information, some advance planning can help make the process easier and more beneficial for everyone involved. The very first step after hiring employees is to initiate the payroll process. There are a number of details about the employee such as but not limited to: Full name of the employee Correspondence address Personal information (date of birth, gender, PAN) Previous salary slips Previous discharge letter from the company Signed Offer Letter These details are required to initiate the following process: Determine monthly/annually salary and other benefits Deduct taxes as per individual tax brackets Deposit collected tax with IT department Efficient payroll management process is the only way to ensure accurate and timely payroll, benefits and fair compensation. According to the process, once the above information is collected, the next steps are taken care of immediately. The actual process may differ from company to company depending on their work culture policies. Here are some simple steps below regarding payroll processing: Keep in mind: This is just an example. Get a personalized document now from our expert writers. Get Custom EssayPayroll should always be processed in advance. Create a payroll processing schedule that allows you enough time to process payroll and correct errors before employees receive their paychecks. Edit the employee's payroll record, if necessary. This should include a change of address; payroll deduction or modification of the income tax slab as well as voluntary modifications of deductions, in the event of early retirement or health benefits. A salary increase, or bonuses and commissions, or even arrears of payment, must be considered in the case of existing employees. There are also different adjustments, including additional payment or deduction from wages due to overpayment or underpayment for a previous period. In such cases, employee salaries must be prorated. In some cases, their term has ended and they are not working for the entire pay period, you must stop future payments. Have a system for printing reports. This will help you verify payroll before printing paychecks. If necessary, make the necessary adjustments. It doesn't stop there as you now need to contact your bank. Check with them if they received the payment and also verify the amount. Update your payroll records to reflect employee gross/net wages for current payroll. Make sure it is..