Cut Down the Stress of Payroll Management with Benjamin Choukroun’s Digitization Solutions

1. Cut Down the Stress of Payroll Management with Benjamin Choukroun’s Digitization Solutions

2. Payroll management refers to the administration of a particular company’s employee’s financial records. The company has to maintain documents of the employee’s incentives, basic salaries, bonuses, and net payables. The information has to be compulsorily kept as per the law, failing which can attract huge penalties. The government can take legal action against the company for non-compliance. Payroll management also includes the clarification of grievances of employees. It provides structure and consistency to the employees. The employees can sleep peacefully knowing that their financial records are maintained properly. The whole process can be made digital with the help of Benjamin Choukroun.

4. The responsibilities included in payroll management are:1. Keep records of payroll data: The payroll administrative support is required to gather all the necessary information necessary for payroll, like names of the employee, the basic salary, the terms of employment, etc. 2.Timesheets: The payroll administrative support is supposed to maintain timesheet data and the number of hours worked by the employee. The information has to be carefully documented to avoid mistakes. The timesheet gives us information about the work the particular employee has done during the month.

5. 3. Calculation of salaries and wages: The Employees are provided with incentives in different forms like overtime, travel allowance, house rent allowance, etc. These are to be considered while making the salary sheet. All the aspects of the salary should be accounted for diligently. 4. Salary Sheets: Salary sheets formulated show the total salary and wages paid to all the employees. It gives us the amount to be paid to each employee after the calculation of all incentives. The salary sheet is the basis on which the salary payments are made.

6. 5. Employee Queries: The payroll administrative management has to clear doubts of the employees about the disbursement of salaries. There should be no grievances of the employees regarding their salaries. The employees might quit the job if the problems are not solved efficiently.6. Timely submission of payroll reports to various departments: The payroll administrative support has to submit the payroll reports on time to the accounts or finance department to avoid any delay in the payment of salaries. If the salaries are not paid on time, it may lead to dissatisfaction among employees.

7. 7. Assist in payroll management of quitting employees and newly hired employees: The payroll administration support is required to assist in processing the payrolls of leaving employees and new employees. When the employee quits the job, his dues must be settled in full. The compliance should be taken care of so that there is no room for any conflict.

8. The above responsibilities are vital to the successful running of the business.The company must ensure that they are carried out only by trained professionals. Any discrepancies in the payroll area can lead to a higher employee turnover rate. A high employee turnover rate can hurt the image of the company. It is advisable to digitalize the whole process with the help of market experts like Benjamin Choukroun. SOURCE CREDIT : https://medium.com/@benjaminchoukrounCEO/cut-down-the-stress-of-payroll-management-with-benjamin-choukrouns-digitization-solutions-e1e29e17246c

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