Payroll is an important part of a business as it involves paying employees for their work. Payroll consists of calculating wages and salaries, deductions, bonuses, taxes, and other compensation that must be paid to employees. Payroll also requires the employer to maintain accurate records and comply with various laws and regulations, such as those relating to minimum wage, overtime pay, vacation time, sick pay and more.
Table Of Content:
- Payroll - Wikipedia
- Payroll Tax Definition: Overview & Examples
- Gross Pay vs. Net Pay: Definitions and Examples | Indeed.com
- Pay Rate | Definition of Pay Rate by Merriam-Webster
- What is FUTA?: Federal Unemployment Tax Act | SurePayroll
- Definition of FEIN | Federal Employer Identification Number
- HR and Payroll Glossary | ADP
- Notice of Reduced Earnings (DE 2063)
- payroll administration - Spanish translation – Linguee
- What Is Retro Pay? | BambooHR
1. Payroll - Wikipedia
https://en.wikipedia.org/wiki/Payroll
In treasury management, a payroll is the list of employees of some company that is entitled to ... One way that payroll can be handled is in-house, meaning that a company handles ... "What Is the Difference Between Payroll Tax & Income Tax?
2. Payroll Tax Definition: Overview & Examples
https://www.investopedia.com/terms/p/payrolltax.asp/payroll-tax-concept--papers--calculator-and-money--1128492914-ea403a57dd164b3f830ab222c2d24ee7.jpg)
A payroll tax is a percentage withheld from an employee's salary and paid to a ... This means they must cover both the employer and employee portions of the ...
3. Gross Pay vs. Net Pay: Definitions and Examples | Indeed.com
https://www.indeed.com/career-advice/pay-salary/what-is-gross-pay
May 28, 2021 ... Gross pay is the total amount of money an employee receives before taxes and deductions. Learn about the difference between gross pay and ...
4. Pay Rate | Definition of Pay Rate by Merriam-Webster
https://www.merriam-webster.com/dictionary/pay%20rate
Pay rate definition is - the amount of money workers are paid per hour, week, etc.. ... “Pay rate.” Merriam-Webster.com Dictionary, Merriam-Webster, ...
5. What is FUTA?: Federal Unemployment Tax Act | SurePayroll
https://www.surepayroll.com/resources/terminology/payroll-taxes/federal-unemployment-tax-act
What is the Federal Unemployment Tax Act (FUTA)?. As a small business owner, there are many payroll taxes you'll need to know about. The Federal ...
6. Definition of FEIN | Federal Employer Identification Number
https://www.patriotsoftware.com/accounting/training/definition/fein-federal-employer-identification-number/
FEIN definition with related FEIN links to payroll articles for small business owners who don't speak technical payroll jargon.
7. HR and Payroll Glossary | ADP
https://www.adp.com/resources/tools/glossary.aspx
This HR and payroll glossary is updated regularly with industry-specific vocabulary and concepts and provides easy-to-understand definitions of tax- related ...
8. Notice of Reduced Earnings (DE 2063)
https://www.edd.ca.gov/pdf_pub_ctr/de2063.pdf
Did this employee report for all work that was available during this payroll week? ... (1) What is the employer's name? ... B. ¿Trabajó Ud. para alguien que no es su empleador normal, cualquier día de esa ... English version on other side.
9. payroll administration - Spanish translation – Linguee
https://www.linguee.com/english-spanish/translation/payroll+administration.html
Many translated example sentences containing "payroll administration" – Spanish-English dictionary and search engine for Spanish translations. ... enher. es. administración de personal y nómina basado en la plataforma SAP. enher.es ... recursos humanos y la administración de la nómina de pagos que no tienen [... ].
10. What Is Retro Pay? | BambooHR
https://www.bamboohr.com/hr-glossary/retro-pay/
The definition of retro pay (short for retroactive pay) is compensation added to an employee's paycheck to make up for a compensation shortfall in a previous pay ...
What are the components of payroll?
The components of payroll include calculating wages and salaries, deductions, bonuses, taxes, and other compensation that must be paid to employees.
How often should payroll be processed?
Most companies process payroll every two weeks or biweekly. However, some companies may choose to process payroll on a monthly basis.
What type of records does a company need to maintain related to payroll?
A company needs to maintain accurate records pertaining to employee wages and deductions in order to ensure compliance with relevant laws and regulations. This includes records related to minimum wage payments, overtime pay amounts, vacation time taken by each employee and more.
Who is responsible for paying the employer's payroll taxes?
The employer is responsible for paying their own payroll taxes as well as taxes that apply directly to the employees' wages. Employers typically withhold this money from the employee’s paycheck or pay it out directly from the company’s revenue stream.
Conclusion:
Payroll plays an integral role in any business as it involves tracking employee compensation accurately and responsibly according to applicable laws and regulations. It is important for employers to understand their obligations when it comes to processing payable wages in order for them stay compliant with all legal requirements.
