Payroll System

A payroll system is a process that businesses use to calculate and distribute employee salaries and wages. It involves tracking hours worked, calculating deductions for taxes and benefits, and ensuring employees are paid accurately and on time. The system also manages records for payroll taxes and compliance with labor laws. In summary, it's essential for businesses to ensure that their employees are compensated fairly and that all legal requirements are met. Efficient payroll systems contribute to employee satisfaction and organizational efficiency.