Employee Salary Management - Distributing salary in an organization

Managing the salary of the employees is a crucial task in every organization. The sum is paid from employer to an employee, which is specified in the contract of the employee at the time of joining. The sum varies from each department to the other. The income is a fixed amount of compensation paid to the employee by the employer. The salary is determined by the market pay rates and a number of factors.

In large companies wages are determined by payrolls which are the financial records of the employees working in the company. The payrolls refer to the amount rewarded to the employees for the services they perform during a certain period of time. The salaries are organized by the human resource department. The human resource management has to keep updated attendance and status of every employee in the company and revise the pay roll accordingly.
The salary is deposited in the bank within a specific time. Each employee is assigned an account in the bank by the human resource manager. The employees deposit certain essential documents prior to opening the account in bank. The H.R. makes sure whether all the documents are original and valid for opening an account in the bank. Once, the account is opened employees receive their salary.

So, employee salary management is one of the best way to track your employee.