Dear Friends ........... Please give me your valuable comments tooo !!!! Best Regards, Tina
From India, Mumbai
29From India, Mumbai
It would be abstract to mention one of them. I feel that both of them share the responsiblity. Regards, Santosh Verma.
From India, Bangalore
From India, Bangalore
Dear All
Payroll comes under HR , As payroll has two part the Very first lies with Hr as they fixed up the salary of the individual, basics, DA, etc. andsame has been communicate to the Accounts and then Accounts do only the Second part which is execution of that process properly which means if HR doesnt communicate to the Accts abouit the same the Employee willnot get paid by the acoounts dept anyway. But what i feel always there sud proper coordination between this two Departments for the Employee welfare and organization Success.
Cheers
Kunal
From India, Mumbai
Payroll comes under HR , As payroll has two part the Very first lies with Hr as they fixed up the salary of the individual, basics, DA, etc. andsame has been communicate to the Accounts and then Accounts do only the Second part which is execution of that process properly which means if HR doesnt communicate to the Accts abouit the same the Employee willnot get paid by the acoounts dept anyway. But what i feel always there sud proper coordination between this two Departments for the Employee welfare and organization Success.
Cheers
Kunal
From India, Mumbai
Well I know that payroll is a part of HR & Accounts, both?
At which point of time ....... its transfered from HR to Accounts
Can any of my friends highlight this please
Awaiting your valuable comments.
Best Regards,
Tina
From India, Mumbai
At which point of time ....... its transfered from HR to Accounts
Can any of my friends highlight this please
Awaiting your valuable comments.
Best Regards,
Tina
From India, Mumbai
Hi Tina,
HR is the custodian of all employee's personal data / information and strives to keep the information up-to-date and strictly confidential.
Hence, HR takes the responsibility of handling payroll as it's rather private & confidential especially dealing with each individual's pay. Of course, this doesn't mean that Accounts / Finance do not have the duty in associating the smooth process of the payroll.
Well, let me explain further. HR will do the necessary monthly data entry of variable amount to be paid to the staff. Variable here means amount that is not fixed, i.e. overtime, no-pay leave, subsistence allowance etc. The process is up to the computation in arrears net of statutory deductions and contributions.
Once everything is ready, HR suppose to send those information to appointed bank for direct deposit into employees' accounts. This is where Accounts / Finance comes into picture. HR should send a copy of the necessary information to Accounts in regards to the above direct deposit. The information here refers to the summary of total amount to be credited instead of individual net pay. For instance, (a) Total Amount under direct deposit; (b) Cheque payment; (c) Cash payment; (d) Summary of overtime payment by department; and etc. (lots more).
Accounts / Finance will capture those figures and "plug-in" accordingly to their database. It's also under their monitoring that all direct deposit is successful. HR has to liase with Accounts for confirmation of the above transaction.
Once again, the individual pay shouldn't be released to any party to avoid any discrepancies. (Except those by cheque payments and other unavoidable cases).
Hope the above helps.
Thanks and regards,
BF Woon
HR is the custodian of all employee's personal data / information and strives to keep the information up-to-date and strictly confidential.
Hence, HR takes the responsibility of handling payroll as it's rather private & confidential especially dealing with each individual's pay. Of course, this doesn't mean that Accounts / Finance do not have the duty in associating the smooth process of the payroll.
Well, let me explain further. HR will do the necessary monthly data entry of variable amount to be paid to the staff. Variable here means amount that is not fixed, i.e. overtime, no-pay leave, subsistence allowance etc. The process is up to the computation in arrears net of statutory deductions and contributions.
Once everything is ready, HR suppose to send those information to appointed bank for direct deposit into employees' accounts. This is where Accounts / Finance comes into picture. HR should send a copy of the necessary information to Accounts in regards to the above direct deposit. The information here refers to the summary of total amount to be credited instead of individual net pay. For instance, (a) Total Amount under direct deposit; (b) Cheque payment; (c) Cash payment; (d) Summary of overtime payment by department; and etc. (lots more).
Accounts / Finance will capture those figures and "plug-in" accordingly to their database. It's also under their monitoring that all direct deposit is successful. HR has to liase with Accounts for confirmation of the above transaction.
Once again, the individual pay shouldn't be released to any party to avoid any discrepancies. (Except those by cheque payments and other unavoidable cases).
Hope the above helps.
Thanks and regards,
BF Woon
Dear BF Woon,
Thats really nice ........ you are very clear what you have said !!!
But then why do we see in most of the accountants profile ... Salary/ payroll ? if their duty is just to pass one entry and make one cheque ?
Lastly who prepares the form 16? accounts or Hr ? thats also confidential data right .......... I usually find accounts working on that ?
Thanks & Best Regards,
Tina
From India, Mumbai
Thats really nice ........ you are very clear what you have said !!!
But then why do we see in most of the accountants profile ... Salary/ payroll ? if their duty is just to pass one entry and make one cheque ?
Lastly who prepares the form 16? accounts or Hr ? thats also confidential data right .......... I usually find accounts working on that ?
Thanks & Best Regards,
Tina
From India, Mumbai
Hai, this is Amrita i think both accounts dept. as well as HR dept.shares the responsibility with each oyher on payroll part.
From India, Delhi
From India, Delhi
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