A Complete Guide to HR Payroll

Table of Contents

Human Resource (HR) is the heart of any Company or Organization. Companies have designated departments and a group of people in HR who run the entire organization smoothly. HR takes care of the most treasured asset of the organization, its employees. The HR department is responsible to take care of the employees by abiding by the organizational policy and procedures.

The HR department is responsible for overseeing the employee needs from the date they join the company until the last day of their work with the company. Their main roles are employee benefits, recruitment, training and development, performance appraisal, and reward management. The overall objective of the HR department is to ensure that the company is able to reach heights through its people. The main roles of Human Resource Management are as below

Staffing – This has four main stages namely i) Staffing Plan should be in place to match the revenue expectation of the company ii) Policy pertaining to multiculturalism at work is very imperative as there are employees from different backgrounds iii) Recruitment – finding the right person for the vacancies iv) Selection – Interview, Selection and Proper Compensation here is vital
Workplace Policies – Every company should have its policies to ensure fairness within the company. HRM department is responsible to develop these policies pertaining to employees, some of them can be Discipline Process Policy, HR Policy, Dress Code, Ethics Policy, Risk Management, Whistle Blower Policy, and so on.
Wages and Admin Benefits – Wages are paid to the employees against the time and efforts they put in for the company. HRM has to make sure that all the employees are paid according to their skills and caliber. Examples of employee wages include monthly pay, health benefits, travel allowance, sick leave, bonuses, and so on.
Retention – This process basically involves motivating the employees, give them a good atmosphere to perform, and keep them adhere to the company for the long term. Most of the employees leave the company for these reasons – not satisfied with duties, issues with the manager, not satisfied with the work culture.
Training and Development – Once the employee is hired, then it is the company’s responsibility to enhance their skills so that the employee can perform in an effective manner. Training is again a key component because of which employees stay happier and stay long-term with the company. Some examples of Training are Job Skills, Communication Training, Team Building Training, Sexual harassment, and so on.

What is HR Payroll?

Payroll is basically a computer-generated register of employees who are compensated by the employer against the time and efforts they put in for their company. It has the below-mentioned functions which any company or an organization has to abide by for the payroll processing of their employees

An Organization Policy including flexible benefits, leave encashment policy, etc for its employees
A System generated pay-slip with components like basic, variable pay, HRA, and LTA
Incorporating other payroll inputs, for instance, any canteen bills or monthly donation towards its CSR initiative (mainly the amount that has to be recovered from its employee on monthly basis)
Net Pay Calculation to be paid to employees including the calculations of gross pay and statutory as well as non -statutory deductions
Final salary payment to an employee
Filing dues like TDS, PF, etc. with concerned authorities

Stages of HR Payroll

The entire payroll process needs proper monitoring and calculations which have to be taken care of by the designed payroll officer of a company. The entire payroll process has three main stages as below

Stage 1 – Pre-Payroll Activities

This stage basically covers about HR Payroll Policy of the Company such as pay policy, leave and benefits policy & attendance policy. The first step is to develop all these policies and get them approved by the Management of the Company for the smooth functioning of the entire payroll process.

The next step is data collection from all the multiple departments of the company. And the final step is validating the entire data before processing the payments. An assurance on any active employee is not missed out and any inactive employee is not paid is very important and crucial.

Stage 2 – Payroll Calculation

In this stage, after validating the data, the entire data of the company is fed into the payroll software which does the required calculations after adjusting the necessary taxes and deductions. Once this process is accomplished it is always a good practice to reconcile the entire data for accuracy and to avoid any errors.

Stage 3- Post Payroll Process

During this last stage, the filling of statutory deductions of EPF, TDS, ESI deducted during the payroll process is very important. The company has to remit the amount to the concerned government authorities. The reports are generated and filed once all the dues are paid.

The next step is payroll accounting which is again very imperative, each and every organization keeps a record of all its financial transactions. Salary is one of the most important operating costs which has to be recorded in books of accounts. Feeding the data into accounting or ERP systems is a part of payroll management.

Challenges involved in processing payroll

Everything comes with a challenge. Softwares are made to make our life easy, but challenges do come with them too. Similarly, this payroll process becomes tedious because of two main reasons

Statutory Compliance Requirement – If a company or an organization fails to adhere to statutory compliances then it can lead to levy of fines and penalties and in the worst scenario, the existence of business can also be threatened. Today, the software companies have progressed well and there is some advanced software available that can process the payroll adhering to statutory compliances.
Multiple Payroll Inputs – In the payroll process, there is a huge dependency on other sources like attendance register, conveyance facility, and revised data from HR which make the entire process complicated.

Various Methods Available for your business

There are three types of options available in the market for your business or company

Excel Based Payroll Management – Small Businesses or companies who are in the initial stage of setup and have a handful of employees can go for this excel based payroll management. This process involves doing calculations on excel sheets that have pre-set standard formulas that can help the payroll officer to do the computation quickly and easily.
Payroll Outsourcing – Companies that do not have a dedicated payroll office can opt for this option of outsourcing. This basically means you hire an external agency to carry out the entire process of HR Payroll. Every month based on the payment cycle, the company has to provide the salary sheet along with the attendance, leaves, reimbursements, etc to the service provider. Since payroll is one of the most important departments for a company, and most companies want transparency and control over it, so they often are reluctant in outsourcing payroll.
Payroll Software – The option of buying payroll software is one of the best ideas for all the big and multinational companies as this help in making the salary payments in a timely manner and without any hurdles. There are options of advanced Softwares available in the market which not only automates payroll computation but also assists in leave and attendance management, HR Management, and employee self-service portal. Every company should try to go with this option depending on the size of the employees.

Best Payroll Software for your organization

The move from manual to automated HR payroll software is time-saving and error-free. It not only helps in faster calculations but also does accurate payroll processing because of which the management and other regulatory bodies are happy.

When your company is planning to opt for Payroll Software, the below-mentioned points should always be taken into consideration

Easy to Operate & Proper Documentation
Scalability
Self-Service Unit
Integrated with Time, Attendance & Leaves
Integrated with Accounting System

Henry Harvin HR Academy

Henry Harvin is one of the top three notch institutes in India which offers world-class HR Payroll Courses. This institute is ranked at the 3rd position by BestcourseNews.com. This HR Payroll Course teaches details about the entire payroll process that makes the individual become industry-ready for HR-related job offers. This course is a virtual class of 24 hours led by an industry expert and also makes you eligible for CHPRS certification to enhance your skills in payroll processing.

Why Henry Harvin?

The topmost reason for enrolling with Henry Harvin – HR Payroll Course is that they have huge collaboration with Corporates like Tech Mahindra, KPMG, Bajaj Finance, HDFC Bank, GAP, Genpact, and so on. In addition, they also have the best College Clientele like BITS Pilani, IIM Ahmedabad, DIT University, and so on. They have been associated with 160+ corporates and 60+ colleges.

The second reason being its 20+ Media recognitions across the leading newspapers and finally ranked by various portals as the best institute for various courses. In addition, it has also attained 1100+ Google reviews and 200+ Youtube Video Testimonials.

Significant Features of the Course

24 hours of Virtual Classes by top-notch industry expert
Trainers, here are with 10+ years of experience working with top multinational companies
Ranked 3rd by Trainings360 as one of the best HR payroll Course
Unlimited Sessions – Once you have enrolled for this course, you are eligible for unlimited batches with the best industry experts
Access to Learning Management System (LMS) which goes on for a lifetime.
Reiterate the entire learnings in 12+ Bootcamp sessions by industry experts
365 days of Support on Live Projects, Internships, Job Support, Interviews & Career Services.
Get a globally recognized certification of CHRPS

Who can enroll for this HR Payroll Course?

HR Specialists
Freshers looking for a successful career
Employees who are currently in the Payroll and HR Department, and willing to enhance their skills.
Employees willing to shift to HR Department
HR Department willing to get additional certification from a globally certified institute
Finance Professionals or Payroll Executives

Course Curriculum

This HR Payroll Course by Henry Harvin covers the entire syllabus for an individual to become Industry Expert in Payroll Course. The various broad topics covered under this course are

Overview of Payroll Management
Labour Laws Compliance and Computation
Tax Saving Investment Deductions and Exemptions
Payroll Processing and Reports

This institute also provides a Complimentary Module on 1) Soft Skills Development & 2) Resume Writing which will add more value to your payroll course.

Certification Process

Henry Harvin has a 4-step certification process for the HR Payroll Course

Step 1 – Enroll yourself after checking the eligibility for the course.

Step 2 – Join the 24 hours of HR Payroll training and add 24 credits to your profile towards the certification process. All the sessions are compulsory to attend before you proceed with applying for a certificate.

Step 3 – You will be committed to working on the mini assignments imparted during the virtual sessions, which would then be checked and verified by the trainers for you to be eligible for the certification process.

Step 4 – Once the course and assignments are accomplished, you will be awarded the HR Payroll Specialized certificate from Henry Harvin. Simultaneously, you can add a hallmark next to your name, get it framed, and share it on social media to increase your value in the industry.

Learning Benefits

An Individual taking up this course will have a plethora of benefits as mentioned below

Will become expert into the HR Functions
Will gain theoretical and practical knowledge under this HR Payroll Course
Will be able to process the payroll of the employees in a timely and accurate manner for any organization
Will Learn about several Indian Provision Acts
Will become proficient in payroll auditing, payroll accountancy, salary payments, provident fund, ESI Schemes, Income Tax deductions, Financial Management, Corporate and Labour Laws, and so on.
Will gain immense knowledge on salary structures and will be able to process the payments

What do you get with the Henry Harvin – HR Payroll Course?

Once you have enrolled for this Henry Harvin – HR Payroll Course, there are 10 huge take away with this course

CHRPS Certification
24 hours Live Training
Industry related study material
1-year subscription to LMS Portal
Monthly Bootcamps
Recordings of all the sessions are readily available on your LMS
Internship Opportunity
Hallmark Certification of CHRPS
Placement Assistance
Opportunity to work with best-known companies

5 Best Institutes for HR Payroll Course

The entire world is moving to digital space for the last couple of years. But, since the pandemic of Covid-19, this idea of learning online has become more prominent. Any individual can sit at home and learn at its ease, this saves traveling time, no pollution, and many other benefits. As the online courses trend has become most common, all the institutes across the world have started imparting the knowledge through the recorded videos.

Here, we are going to talk about the top institutes in India for online HR Payroll Courses.

Henry Harvin – Henry Harvin is one of the top leading platforms in India offering the online HR Payroll Course. Through this institute, a student can gain knowledge from industry experts during their online sessions. This training is for 24 hours, and the best part of this institute is that a student can enroll for weekdays as well as weekend batches. For more detailed information about this institute, you can check this article again from the top.
Coursera –Coursera is one of the best online platforms for providing online courses. Here, the courses are developed by top-class universities and industry partners. Coursera is also upgraded with the latest HR Payroll courses from the best universities in the world. There are more than 900 courses available in the HR Section which is the best service provided by this platform. One can enroll in the course as per their skill requirement.
HR Spot – HR Spot is again imparting online knowledge to its students and HR Payroll Course is one of the best course here. It is awarded as the best learning institute by Education Congress 2020. This institute has also been the winner of many awards such as the Best HR Practice Award (3 times), HR Champion Award in HR Training, and so on. It has over 25+ years of experience and is awarded 10+ times. This institute also provides corporate training. There are myriad courses available with this institute to become an industry expert in the field of HR.
Udemy – Udemy is again one of the best platforms offering online courses at very nominal rates. This institute offers more than 200 courses on HR management has trained over 1,80,000 students in this field. One can easily download the Udemy app on a mobile phone and start learning at ease. It also offers a 30 days satisfaction money-back guarantee. The USP of this course is 1) Understand A-Z about Human Resource 2) Learn current trending topics in HR 3) Get Certified to enhance your skills and improve your career graph.
Up grad – Up grad is one of the India’s largest online education company. It has imparted knowledge to more than 8,00,000 students through its expertise. This institute offers the best HR payroll course worth Rs 60,000 and the duration of the course is 11 months. Students can learn from leading LIBA Faculty and the best industry experts after enrolling in this course. Students who have enrolled and accomplished this HR Payroll Course are eligible for LIBA accreditation (Loyola Institute of Business Management).

Q1. What is Payroll?u00a0u00a0

Payroll is a fixed return awarded to an employee by an employer for the fixed hours and efforts that an employee gives to the company.u00a0u00a0

Q2. What are the means to manage payroll?

There are four different methods to manage the HR payroll by an organization as 1) Outsourcing Payroll 2) Assisted Payroll 3) Using Payroll Software u0026amp; 4) Do it yourself manually.

Q3. What are the roles involved in payroll?u00a0

There are many roles involved in payroll as Reconciliation of HR Payroll Data, Remuneration Deductions, Tax deductions, Maintaining Compliances as per the tax laws, Maintaining paperwork for new employment, Reworking on existing employee files u0026amp; Calculation of various employee benefits such as bonuses, overtime u0026amp; paid holiday payments u00a0u00a0

Q4. What are the paid benefits given by the employer?

The most common benefits agreed by an employer are Paid Holidays, Sick Leaves,
Health Insurance, u00a0Retirement Plan, Profit-Sharing Plan, and Leave Travel Encashment

Q5. Mention in detail about Payroll Management System

A Payroll Management System is basically an HR Payroll Software that maintains the entire track record of an employee since the date of joining as mentioned here Joining Relieving date, Working Hours, Wages Calculation, Taxes u0026amp; Deductions,
Paying Taxes to Government, and u00a0Wages track record of an employee
SAP is the best software company based out in Germany that provides world-class HR payroll software.

Q6. What is CTC?u00a0

CTC stands for Cost to Company. This includes the entire cost related to an employment contract and covers all the deductibles such as provident fund, medical insurance, gratuity, etc. These deductions form a part of the salary structure, but an employee does get it as a part of the in-hand salary.

Q7. What is the HR Payroll u2013 Source documents?

Pay-Source documents are automated generated documents from the software for processing the salary of an employee. It includes Time Recording, Job Sheets, Time Sheets, Payroll Register, and Pay Slip

Q8. What all details of an employee should be verified before making the salary payment?

Before processing the payment, it is very imperative to take a check on these points – Internal Systems, Proper Calculation of Wages, Verification of Wages Sheet Nature of Payment u2013 Cash, Cheque or NEFT, Deductions, u00a0u00a0Verification of Correct Name, and u00a0Unpaid Wages if any
u00a0

Q9. Steps to select a Payroll Service Software

One should always consider the points mentioned here before selecting HR Payroll Software – The Software should have the recovery u0026amp; back plans, Software should be simple and easy to operate which could easily integrate with the HR Accounting Software of the company, Is there any notification provision if the error occurs?
What is the TAT time to fix the error? Is the software easy to handle with mobile as well as cloud technology? Does the software have functions of tax reports, deduction analysis, payroll register, compensation analysis and so on

Q10.What comes under Non-taxable Wages?

Health, Retirement benefits ; Provident Fund come under non-taxable wages