Payroll

Payroll is defined as the process of paying salaries to a company’s employees.

The payroll process involves arriving at what is due to be paid to the employees for a particular payroll cycle, usually monthly. Payroll amounts are calculated by calculated payable salary and other earnings like housing allowances, and car allowances then deducting any amounts due like payroll taxes, loans, or any other deductions as per company policies or the laws of the jurisdiction employee is working in.