Payroll Processing in India – Basic Components That You Should Know

Employee compensation management, which is usually referred to as payroll management, is a comprehensive process. It includes salary calculation, disbursal, payslip generation, deduction taxes, record keeping, etc. For small and mid-sized business owners, framing the salary components is often a challenge especially if they are less proficient in administering the payroll process. However, it is an inevitable task that needs to be performed periodically, and an error in the process may lead to critical legal implications.