All the business owners are aware of the importance of salary in an employee’s life. While for some it may be just another source of income, for others it may be their only income source with the help of which they sustain their families.
In such a situation, the delaying of their salaries because of whatever reason it may be, cannot only cause a huge impact on that particular employee’s life and functioning but also, it can have certain adverse effects on the business operations. This is the main reason as to why payroll calculation hong kong has very significant importance in the overall functioning of a business, a company or an organisation.
Payroll calculation hong kong: the process involved in payroll calculation
- The process of generating and calculation of the payroll starts by tracking the number of hours each employee has worked.
- This is followed by determination of the money that needs to be paid to each employee according to their data retrieved.
- The final step if the distribution of payments.
The money can be paid to the Employees either by the means of direct depositing in their bank account or they can be given a cheque containing the required amount.