Professional Documents
Culture Documents
INTRODUCTION TO COMPENSATION
Remuneration
Received by an Employee Organized practice that involves balancing the work-employee relation Integral Part of Human Resource Management
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TYPES OF COMPENSATION
Direct Compensation
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Indirect Compensation
NEED OF COMPENSATION
Employee Motivation <-> Increased Productivity Effective Organization Operations Employee Retention Attract and Sustaining the Best Talent. Enhancement of Job Evaluation Creation of Healthy Competition Business Growth and Expansion Possibilities
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COMPENSATION COMPONENT
DIRECT COMPENSATION
Direct compensation refers to monetary benefits offered and provided to employees in return of the services they provide to the organization. They are given at a regular interval at a definite time.
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INDIRECT COMPENSATION
Indirect compensation refers to non-monetary benefits offered and provided to employees in lieu of the services provided by them to the organization.
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WHAT IS PAYROLL?
Payroll is the total amount of money paid by an Organization (Business) to its employees over a set amount of time. Payroll is the sum of all financial records of salaries, wages, bonuses and deductions. The administration of employees' salaries, wages, bonuses, net pay, and deductions. Payroll is administered on the monthly basis and annual basis.
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PAYROLL CONSTITUENTS
Employee ID, Employee Name (Employee Details) Date of joining, Daily Attendance record (Attendance Details) Basic salary, Allowances, Overtime pay, Bonus, Commissions, Incentives, Pay for holidays, Vacations and Sickness, Value of meals and Lodging etc. There are some deductions such as PF, Taxes, Loan installments or Advances taken by employee.
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Payroll Management provides quality payroll processing and personnel services at competitive and affordable rates.
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Payroll Processing Methods: Manual System Accountant Payroll Software Payroll Outsourcing
Payroll Management generally includes activities in two major areas: Payroll Accounting and Payroll Administration. Payroll Accounting consists of: 1) Calculating the earnings of employees and the related withholding for taxes and other deductions, 2) Recording the results of payroll activities, and 3) Preparing required tax returns. Payroll Administration deals with the managerial aspects of maintaining a payroll, many of which are distinct from the accounting aspect of payroll. Payroll administration includes: 1) Managing employee personnel and payroll information, 2)Compliance with State and local employment laws (Form-16)
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Employee Personal Information System Leave & Time Management System Payroll Processing System Salary Accounts Management System HRMS (Human Resources Administration) Income Tax Management (TDS) MIS Reporting (Management Information Reports)
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1) 2) 3) 4) 5)
PIS will allow capturing following details: Personal Profile ( incl. Family Information) Bank Details Education Details Skills Set Details Official Profile
AMS will allow following details: Leave Categorizations Periodic Details Reason Details Approval Details The Details are associated and linked with the relevant modules and thus salary is generated in accordance with the attendance.
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1) 2) 3) 4)
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1) 2) 3) 4) 5)
Payroll and S-AMS will allow following details: Salary Head Details (Type and Percentage) Salary Formulations Professional Tax Slabs Salary Structures (may vary) Pay Slip Information
HRMS will allow following details: Bonus, Perks Details Final Settlement Leave Status and Updating Allowance Applications Confirmation and Notification Details Information Relay
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2) 3) 4) 5) 6)
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1) 2) 3)
Income Tax (TDS) will allow following details: Forms and Challans Info Financial Year Investment Details Tax Calculation
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1) 2) 3) 4) 5)
MIS will provide following details: Payroll Sheet Generation Pay Slip Generation Monthly Overtime Reports Employee Registration Details Flexible Reporting
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Three Tiered Architecture Presentation Layer Application Logic (Business Logic) Database Components
Presentation
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Application Logic
Data Layer
ASP.NET Framework (C#) - Server Side Scripting HTML and Javascript Client Side Intelligence, Validations, Events Driven Logic SQL Server Business Logic, Advanced Queuing, Data Profiling, Server Managed Backup and Recovery, Triggers, Stored Procedures, Common Table Executions, CLR Integration, Users/Roles Management and Authentication RAD Tools Ajax Implementations, Enhanced GUI VSS (Visual Source-Safe) Maintaining Check-Out and Check In operations, Parallel Code Manipulations Crystal Reports Generic Reports Representation, Framework Integration
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FLOW DIAGRAM
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CERTAIN COURS
Hopefully you get what you pay for, because you always pay for what you get
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Definition of a competitive salary: We remain competitive by paying less than our competitors
Merci!
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