What is Payroll?
The administration of the financial record of employees salaries,wages, bonuses, net pay, and deductions.
Pay roll is an employee’s salary management system like:
TA (Travelling Allowance)DA (Dearness Allowance) HRA(House Rent Allowance) Overtime
PT(Professional tax)
EPF(Employees’ Provident Fund) Canteen Deduction
Bonus
Advance Salary Deduction
April2022 | ||
1 | 1-4-2022 | Mr.Gulab chand started a business with cash Rs. 500000. |
2 | 8-4-2022 | Mr.Gulab chand deposited cash Rs.400000 into HDFC Bank. |
3 | 18-4-2022 | Mr.Gulab chand purchased furniture of Rs.12000 and AC of Rs.26500 and payment made by cheque. |
4 | 25-4-2022 | Mr.Gulab chand paid cash Rs.1200 for Stationary expenses. |
May2022 | |||||||
5 | 1-5-2022 | Mr.Gulab chand appoint the following employees. 1. Manoj Verma as accountant manager 2. Rahul Raias sales manager 3. Pooja Verma as production manager | |||||
Their pay structure is as shown in the following table. | |||||||
Pay Head | Manoj Verma | Rahul Rai | Pooja Verma | ||||
Basic Pay | Rs.8000/Month | Rs.7000/Month | Rs.6000/Month | ||||
Overtime | Rs.100/Hrs. | Rs.50/Hrs. | Rs.80/Hrs. | ||||
TA | Rs.800 Flat per Month | ||||||
DA | As per law on current earning totals [<20000(5%),<40000(6%),else (8%)] | ||||||
HRA | 20%of Basic Pay | ||||||
Bonus | As User defined Value | ||||||
Canteen Deduction | Rs.600 Flat per month | ||||||
Professional Tax | As per law on current earning totals [<5000(0),<8000(60),<10000(100),<15000(150)else (200)] | ||||||
EPF Deduction | As per law,12% on Basic Pay | ||||||
1. Create Employee Category
2. Create Employee Group
3. Create All Employee
Similarly for Rahul Rai and Pooja Verma.
4. Create Unit
5.Create Attendance/Production Type
6. Create Pay Head
7. Alter Define Salary
8. Alter Define Salary
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6 | 31-5-2022 | Company adjust thesalaries of employee for July month on the bases of present as per given below and paid salary by cheque. NameofEmployeeAbsent Overtime ManojVerma 3 5Hrs Pooja Verma 2 7Hrs RahulRai 2 8Hrs |
F10:other vouchers
