Remove Deductible Remove Employment Remove Net Pay Remove Salary
article thumbnail

Gross pay vs. net pay: What's the difference?

PeopleKeep

Whether you employ hourly or salaried workers, you must understand the difference between gross and net pay. Understanding how certain deductions and your tax obligations factor into both gross and net pay can help you run a smooth payroll process.

Net Pay 52
article thumbnail

India’s Payroll Processing: A Comprehensive Step-by-Step Guide

Qandle

It involves the systematic and accurate calculation of employee salaries, ensuring timely disbursement, and complying with various legal and regulatory requirements. The payroll team should deduct salary for leaves taken beyond the allowed quota, ensuring that the final payment is accurate.

Payroll 98
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is Payroll – A Comprehensive Guide, Definition, Processes & Solutions

Qandle

Payroll refers to the process by which employers calculate and distribute compensation to their employees for the work they have completed. It involves various tasks, including calculating wages, withholding taxes and other deductions, and ensuring that employees receive their net pay.

Payroll 105
article thumbnail

A Guide to Payroll Management: Ensuring Smooth Financial Operations

Qandle

First and foremost, it requires a thorough understanding of applicable laws and regulations related to wages, taxes, and deductions. This not only facilitates precise salary calculations but also serves as a valuable resource for audits and financial planning. Effective payroll management involves several key components.

article thumbnail

A Guide to Calculating Pensionable Earnings for Employers

Employee Benefits

For employers, determining the contributions to a workplace pension scheme depends on the pensionable earnings of their employees. Explaining pensionable earnings Pensionable earnings are crucial for employers in determining the amount to be paid into their employees pensions. It encompasses all the additional earnings mentioned above.

Pension 52
article thumbnail

Buyer’s guide to home technology schemes

Employee Benefits

The payments can be made either through a salary sacrifice arrangement from gross pay or from a net pay arrangement. Caboodle, an Access company, runs its net pay scheme in conjunction with Currys. They then pay back the voucher through net salary deductions over the agreed period of time.

article thumbnail

Choosing the best workplace pension for your business

Employee Benefits

At its core, a workplace pension is a retirement savings plan organised by an employer for the benefit of their employees, who also contribute to the pension. As of 2012, the introduction of auto-enrolment mandates all employers to provide a workplace pension. Net Pay contributions from your employees is deducted before tax.

Pension 96