1. #1
    Unregistered

    What does it mean by payroll?

    I am just new to this professional world and every month I use to receive the salary where it is mentioned about payroll. What does it mean actually? Can you please give me more details about the payroll concept? Is it related to salary or something else?

  2. #2
    Param Array
    Join Date
    Sep 2012
    Posts
    298

    Re: What does it mean by payroll?

    The noun PAYROLL has 3 senses:

    1. A list of employees and their salaries

    2. The total amount of money paid in wages

    3. The department that determines the amounts of wage or salary due to each empoyee

  3. #3
    priyadharshini Array
    Join Date
    Nov 2012
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    35

    Re: What does it mean by payroll?

    Hi,
    Payroll is more or less your salary statement.It includes your basic salary,HRA, FBP and other allowances.
    So payroll is the total amount that you are paid for your dedicated work in the organisation.

  4. #4
    looser Array
    Join Date
    Jul 2012
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    619

    Re: What does it mean by payroll?

    Hi friend

    Payroll is nothing but the employer's activities related to the compensation it pays to its employees.

    It is the salary of the employee in the company account.

    Payroll of the employee is calculated as follows:-

    1. Start with Gross Pay.

    2. Subtract deductions from gross pay to arrive at the employee's net pay.

    3. After all deductions have been made, the amount left over is the employee's net salary.


    Hope i have helped you in getting relevant information.

    All the best

    THanking you..





  5. #5
    Ashok Array
    Join Date
    Jul 2012
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    2,293

    Re: What does it mean by payroll?

    Quote Originally Posted by Unregistered View Post
    I am just new to this professional world and every month I use to receive the salary where it is mentioned about payroll. What does it mean actually? Can you please give me more details about the payroll concept? Is it related to salary or something else?
    Dear Aspirant,

    You need not worry for these things.Pay roll is connected with the financial records with regard to the salry,wages,bonuses etc paid to all the employees in a company.

    See there are many employees working in a company & all of them have to get the financial benifits in terms of salary,wages,bonuses,leave salary,travelling expenses.So in order to mention it in details,a register is maintained in which the name,designation & salary details or any payment details are mentioned serially.The concerned registered is called payroll or Acquittance roll.

    Thanks & good luck.

    Ashok



  6. #6
    cheppanu Array
    Join Date
    Aug 2012
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    63

    Re: What does it mean by payroll?

    Pay roll is a department in the organization.

    Pay roll department will involve in the payment of the salaries to the employees.

    All the tax deductions will be calculated by this pay roll team only.

    HR people will coordinate all these things.

    This should have very much importance in the organization,

    Because any mistakes being done by these people will result in the loss or payment of more credit to the employee.

  7. #7
    omprakash_dhaker Array
    Join Date
    Aug 2012
    Posts
    59

    Re: What does it mean by payroll?

    In a company ,payroll is the sum of all financial records of any particular employee ,bonus,deductions etc.Payroll plays important role in a company as net income is affected by payroll,In companies payroll taxes are different from income taxes.Payroll frequency- companies give payroll after a fix time interval and this time interval varies from company to company.Payroll outsourcing- some companies use payroll as outsourcing services,this reduce the payroll trainee's cost as they are trained in house.

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