How to initiate payroll process in a company if it’s payroll date is the last working day of the month?
From India, Gurgaon
From India, Gurgaon
Hi, In that case salary processing would take time and there will be delay in salary credit. Hence to avoid it you need to have early cut of date like 21st or so. In this case any leave availed after 21st will reflect in salary cycle. However for the employee salary to be processed for the full month.
From India, Madras
945From India, Madras
Hello.
Usually salary days will be 1st to 30th/31st of every month. To process payroll working days attendances are to be kept ready till date 30 or 31 for each employee.
If attendances are manual in notebook, you need to update attendances in excel sheet day-wise or week wise - in such a way, that you need to kept ready 30 days working days attendances on 31st of the month. Then on last day, you can update only 31st attendance and get the total working days in excel.
In such a way, you can process payroll at the last day smoothly. You need to make arrangements that you will get attendance data everyday from respective departments/Hold Pays at end of month/ Correction suggested from every department head etc.,
It also depends on no.of staffs. If it's more than 500 or 1000, manual attendances is difficult. You should follow the same process except preparing attendance working days using biometric in payroll softwares.
It can be done.
Second choice is despite working days taken for salary process as 01st-30th or 31st, take from 26th of previous month to 25th of current month. but, u need to face issues like PF and ESIC calculations. The better ways is first choice.
Hope it's clear.
All the best. Thank You.
From India, Selam
Usually salary days will be 1st to 30th/31st of every month. To process payroll working days attendances are to be kept ready till date 30 or 31 for each employee.
If attendances are manual in notebook, you need to update attendances in excel sheet day-wise or week wise - in such a way, that you need to kept ready 30 days working days attendances on 31st of the month. Then on last day, you can update only 31st attendance and get the total working days in excel.
In such a way, you can process payroll at the last day smoothly. You need to make arrangements that you will get attendance data everyday from respective departments/Hold Pays at end of month/ Correction suggested from every department head etc.,
It also depends on no.of staffs. If it's more than 500 or 1000, manual attendances is difficult. You should follow the same process except preparing attendance working days using biometric in payroll softwares.
It can be done.
Second choice is despite working days taken for salary process as 01st-30th or 31st, take from 26th of previous month to 25th of current month. but, u need to face issues like PF and ESIC calculations. The better ways is first choice.
Hope it's clear.
All the best. Thank You.
From India, Selam
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