payrol system meaning

For me, a payroll system represents the manner in which a company pays it's employees. Better yet, it is the process that ultimately gets each employee paid. A payroll system would keep track of who worked what hours and what monies is owed to them. It would also make sure that each employee got paid via check, debit, etc.

Payroll system are the one which helps in calculating employee working payroll based on the wages, deductions from the date on which he/she is joined on the company. Usually payroll system helps company owners in reducing their time and money. It usually, enclosed with various calculation that comes under employee pay every month. Source:-

Payroll is calculated for each and every employee working in an organization according to their wages, bonuses and deductions. This includes salary payments, tax withholdings, and deductions from a paycheck. payroll taxes includes the following, 1.medicare taxes 2.social security taxes 3.state unemployment taxes 4.federal unemployment taxes Payroll is a critical department as employees are responsive to payroll errors and irregularities. Good employee requires payroll to be paid timely and accurately. I recommend you to visit the website to know more about payroll system. it contains useful information.