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Payroll management system is the management solution for all financial records of salaries for an employee, wages, bonuses and tax & other deductions. In accounting, payroll calculates the amount which needs to pay to employees for services they provided in total working days. From an accounting point of view, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and they are subject to laws and regulations as per the country laws From ethics in business good employee morale requires payroll to be paid timely and accurately.
The primary mission of the payroll department is to ensure that all employees of company are paid accurately and timely with the correct with holdings and tax/other deductions, and to ensure the withholdings and deductions are remitted systematically. This includes salary payments, tax withholdings, and deductions etc.