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What type of data should be maintained for salary bill preparation? |
Office expenses and budget reports Employee's tax filing details Only employee's name and designation Employee number, name, attendance, basic pay, allowances, and deductions |
Employee number, name, attendance, basic pay, allowances, and deductions |
The correct answer is option 4- Employee number, name, attendance, basic pay, allowances, and deductions. Employee number, name, attendance, basic pay, allowances, and deductions type of data should be maintained for salary bill preparation. Every employee is paid salary on a pre-determined date within the framework of employee contract and related personnel policy in force from time to time in an organisation. The computation of salary payment is based on the number of days an employee has worked, rate per grade of pay, rate of applied allowances and deductions to be made therefrom. The preparation of salary bill should provide for the following : • Maintaining payroll related data such as Employee No., Name, Attendance, Basic Pay, applicable Dearness and other Allowances, deductions to be made. • Periodic payroll computations: the payroll computation includes the calculation of various earning and deduction heads, which are to be derived from basic values (such as basic salary, number of days under leave without pay (LWP) and unauthorised absence, etc) as per the formulae. |
