Beruflich Dokumente
Kultur Dokumente
A project Submitted to
University of Mumbai for Partial completion of the degree of
Bachelor in Commerce(Accounting and Finance )
Under the faculty of Commerce
By
Sanap Pragati Jayhind
Under the guidance of
Ms.Sonal Shinde.
Changu Kana Thakur Arts, Commerce and Science College,
Sector – 11, New Panvel-410206
Academic Year : 2019-20
Meaning
Payroll Management
Leaves management
Expense management
Record - keeping
Functions of Payroll Method Calculation
2) Total Days Method (TDM) Gross Salary = Net Salary * (Present Days + PL+WO+F)/Total Days in month
3) Work Days Method (WDM) Gross Salary = Net Salary * (Present Days + PL)/ Working Days in a month
Where,
A) Given :
Net Salary = 400 , Total days = 31 , Present days & Paid leaves = 22
Formula :
Monthly Gross Salary = (Net Daily Wage)*Present Days
= 400*22
= Rs. 8,800
B) Given :
Net Salary = 1,000 , Total days = 31 , Present days & Paid leaves = 21 , Weekly off = 3
Formula :
Monthly Gross Salary = (Net Daily wage)*Present Days + WO)
= 1,000*(21+3)
= Rs. 24,000
2) Total Days Method (TDM)
Given :
Net Salary = 10,000 , Total days = 31 , Working days = 27 , Present days & Paid leaves = 27 , Festivals = 0 , Weekly off = 4
Formula :
Gross Salary = Net Salary * (Present Days + PL+WO+F)/Total Days in month
= 10,000*(27+4+0)/31
= Rs. 10,000
Given :
Net Salary = 11,000 , Total days = 31 , Working days = 27 , Present days & Paid leaves = 25
Formula :
Gross Salary = Net Salary * (Present Days + PL)/ Working Days in a month
= 11,000*25/31
= Rs. 8,871
Need of Payroll Calculations
I. Notify Employees
II. Collect timesheets
III. Review and approve timesheets
IV. Enter hours worked
V. Enter wage rate changes
VI. Calculate gross pay
VII. Calculate net pay
VIII.Review
IX. Pay employees
X. Remit taxes
XI. Distribute pay.
Tools used for payroll calculations
1. ADP
2. Paychex
3. Patriot Software
4. Intuit
5. Gusto
6. Zenefits
7. Wagepoint
Techniques used for payroll calculations
1. Cash Method
5. Manual System
6. Accountant
7. Payroll Software
i) Irrespective of the size of the organisation, payroll plays a huge role in maintaining the
morale of employees to the financial stability of the company.