It can vary for each period due to sick leaves, overtime, or other variables. Payroll is the prime expense for any business entity. Its procedure is to create a list of paid employees, calculate their working hours, estimate their pay, give their salary on time, and record the expense of payroll. In simple terms, payroll definition can be written as the process of paying employees. To ensure that the staff is happy and your business payment system is law compliant, payroll understanding and its effective compliance are necessary. These mistakes can demotivate your employees and can even create legal complications which can affect the business productivity. Payroll mistakes and complicated employment laws are the common problems of any business entity.
