WHAT IS OBJECTIVE OF THE PAYROLL MANAGEMENT SYSTEM

The Payroll System is essential compliance software for your business. Businesses need to maintain stable and regular financial processes to pay employees on time. The payroll management process simply refers to the process of managing the financial records of company employees. It includes details about an employee's salary, incentives, bonuses, deductions, and net salary. Employers are required by law to maintain and retain these records. Failure to comply with income tax laws regarding employee records may result in legal penalties. A payroll management system is a system that allows employers to manage their employees' payroll. The pay structure includes wages, benefits, deductions, and net debt to employees. It also handles payroll creation.