5 Payroll Related Tips For The New Hr

The HR and payroll are interrelated and the problems arise when any of the two is not doing their part correctly. More or less, the veterans who have been in the industry for years, know how the coordination is done and how the gap can be bridged. But, the problem usually occurs when a newly appointed HR is given this responsibility. There is a huge difference in reading about management in school and actually managing it when you are at work. So, the new HR needs to know a few practical tips to manage the payroll related work. In this post, we share exactly that. Take a look.

  • Give the employee list

    The employee list is very important for the payroll department. Even when they are using payroll management software, they cannot go ahead without checking that all the employees have been included in the payroll software or not. So, you should make sure that you give them the latest employee sheet. The old one can also have the names of employees who have not associated with the company anymore and will not have the names of employees who have been extended appointment letter recently by the company.
  • Define the process and policies

    While all the process and policies are set in advance, there are a few things related to payroll that you need to pay attention to while using the payroll management software. For instance, arrears; in terms of arrears, if an employee has joined the office in the mid of a month, the decision whether they would be paid next month or the current one has to be made. The decision made needs to be communicated on time to the payroll team.
  • Know the recovery of loans and advances

The loans and advances are to be taken care of by the HR if there are some installments pending from the employee side, you should mention that they need to be cut. The inputs related to such deductions are to be given by the HR to the payroll person.

  • Complete salary revision

    It is very essential for HR to plan the salary revision process in advance. It has to be done at least 15 to 20 days before the time of processing the payroll. Otherwise, the payroll sheet will get hampered at the end of the process. This will also lead to a delay in the salary credit in the account of employees which will become a reason for employee dissatisfaction.
  • Investment proof collection

    Now, the investment declarations that the employees make are also need to be paid heed to. You should collect all the investment declaration and should also show the same to the payroll department so that they can do the deductions accordingly. You also need to remind the employees to show their investments before the date to deduct tax amount approaches.

Now that you know how even as a newbie in HR you can ace your HR job, you should get back at it right now!

Leave a Reply

Your email address will not be published. Required fields are marked *