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What are the basic essential task within the payroll cycle that you will use to access...

What are the basic essential task within the payroll cycle that you will use to access the third party you are outsourcing the payroll system to?

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Answer #1

Solution:

First we have to understand Payroll.

Payroll refers to the total amount of which employer pay to the employee. It includes basic pay, HRA, LTA,  Allowance deduction, etc.

Generally, Company outsources payroll administration to a specialist third-party organization.

Gross pay, Allowance, deduction, net pay, employer identification number, employee identification number, tax information, payslip, etc. are included in the basic essential task within the payroll cycle.

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