Question

write the short note on payroll

Answer 1

Payroll is the sum total of all compensation a business must pay to its employees for a set period of time or on a given date. It is usually managed by the accounting or human resources department of a business; small-business payrolls may be handled directly by the owner or an associate. Increasingly, payroll is outsourced to specialized firms that handle paycheck processing, employee benefits and insurance, and accounting tasks such as tax withholding.

Answer 2

Payroll is the cumulative amount of any compensation that a corporation must pay to its workers for a specified period of time or on a particular date.

Explanation:

PAYROLL:-

• It is typically operated by a company's accounting or procurement department; small business payrolls can be done directly by the founder or partner.
• Payroll is the number of wages paid by a company to its executives. Payrolling involves taking national, state, and local taxes out of the gross salary of the worker.
• Payroll is a list of workers who are compensated by the company. Payroll frequently applies to the overall amount of cash that the company charges to workers.
• They involve workers' wages, employer's health care insurance payments or additional benefits, the company's income taxes, rewards, fees, and comparable expenses.

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