Payroll Calculation | greytHR
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Payroll Calculation

At this stage, the validated input data is fed into the payroll system for actual payroll processing. The result of the payroll calculation is the net pay after adjusting necessary taxes and other deductions.

Salary revision, one-time payments (bonus, incentives, advance, etc.), flexible benefits, reimbursements, arrears and full & final settlements are considered for this calculation.

At this stage, it is a good practice to reconcile the values and verify them for accuracy to avoid any errors. This process is called payroll reconciliation.

Referred in
Payroll Calculation