Hi to all the members of Citehr community,
I am working in a Pharma company. At present we are having the system of disbursing salary on 07th of every month, now the management has decided to disburse the salary on 01st of every month.
I have to prepare the whole system. please help me in preparing the system as to what cut off date i should use and how to manage all the things etc...
Urgent help is required....
From India, Visnagar
3I am working in a Pharma company. At present we are having the system of disbursing salary on 07th of every month, now the management has decided to disburse the salary on 01st of every month.
I have to prepare the whole system. please help me in preparing the system as to what cut off date i should use and how to manage all the things etc...
Urgent help is required....
From India, Visnagar
Dear Friend,
It all depends on the size of your organisation. How much time it takes for you to prepare the salary and its disbursement.
Keeping that in mind you can start at a date say for e.g. it takes for you four days to prepare and finalise your payroll, that means you start on the 2nd or 3rd effectively. When you have to pay on the 1st of the next month, that means you should take 24th of the previous month as the last day of the month.
I hope you can plan your things accordinly.
Best Wishes !
Debashis
From India, Lucknow
It all depends on the size of your organisation. How much time it takes for you to prepare the salary and its disbursement.
Keeping that in mind you can start at a date say for e.g. it takes for you four days to prepare and finalise your payroll, that means you start on the 2nd or 3rd effectively. When you have to pay on the 1st of the next month, that means you should take 24th of the previous month as the last day of the month.
I hope you can plan your things accordinly.
Best Wishes !
Debashis
From India, Lucknow
what other adjustments we have to make and what other changes and record keeping will be required every month. Is it wise to go for the change than the present practice.
From India, Visnagar
From India, Visnagar
Hi
The cut off date for making payment on 1st is usually 24th or 25th. If you have too many branches then 23 rd is desirable.
What changes
I dont thing any change is required anywhere . Having said this, I would like to highlight the extra payment that you may be paying in some cases and this adjustments need to be done .
When you switch over you see what happens.
1st jan to 31st jan Cut off 31 st Salary paid on 7th Feb
25 th Jan to 24 th Feb Cut off 24 th Feb Salary paid on i st March
You will find a overlapping in Jan 24 th to Jan 31st. Actually , this will not be overlapped instead the days between 25th Feb to 28th Feb will be treated as Present for all employees and If an employee has availed any leave on loss of Pay he would have receive the payment and the same will be adjusted only during the next month. This is the only risk if you call it so involved. Whenever, an employee resigns this has to be looked and adjustments made.
Otherwise there is no change involved.
Siva
From India, Chennai
The cut off date for making payment on 1st is usually 24th or 25th. If you have too many branches then 23 rd is desirable.
What changes
I dont thing any change is required anywhere . Having said this, I would like to highlight the extra payment that you may be paying in some cases and this adjustments need to be done .
When you switch over you see what happens.
1st jan to 31st jan Cut off 31 st Salary paid on 7th Feb
25 th Jan to 24 th Feb Cut off 24 th Feb Salary paid on i st March
You will find a overlapping in Jan 24 th to Jan 31st. Actually , this will not be overlapped instead the days between 25th Feb to 28th Feb will be treated as Present for all employees and If an employee has availed any leave on loss of Pay he would have receive the payment and the same will be adjusted only during the next month. This is the only risk if you call it so involved. Whenever, an employee resigns this has to be looked and adjustments made.
Otherwise there is no change involved.
Siva
From India, Chennai
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