Payroll Variations and Changes

This payroll policy and procedure is an essential guide for line managers to ensure all staff members are paid correctly and in a timely manner.

Payroll Variations and Changes

Payroll implies to the total amount of wages paid to an employee by the organisation. Payroll is daunting to handle with tasks like administration of salaries, timekeeping, payroll schedules and payment methods. When you pay for the same number of hours, the salary of an employee stays constant each payday. But when the working hour of an employee varies, or the worker works overtime, the pay fluctuates.

In this case, the gross wages amounts for mandatory and voluntary deductions also vary. The company needs to keep track of all the payroll details when it changes. The payroll must be calculated correctly for every pay fluctuation. So, as an employer, you need to assure employees of accurate and timely payment of salaries and wages.

Steps to Follow

The payroll workflow management is accomplished by the payroll department of an organisation. They also need to ensure efficient and timely payroll processing by establishing payroll schedules and deadlines for submission of payroll documents. It is the responsibility of the manager to make sure that all required payroll documents are completed and forwarded within the fixed timelines. The employee needs to review payments and deductions and make the payroll department aware of any discrepancies. As payroll involve accurate and timely paychecks, payroll tax and record-keeping compliance, it should be performed with painstaking detail. A template with guidelines to manage the payroll variation can ease up the task for you.

Components of Payroll

  • Gross Wages
  • Benefits
  • Social Security and Medicare
  • Tax Withholdings

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