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 Payroll has a crucial role in business operations that involves the calculation and distribution of employee salaries and wages. It encompasses the financial processes related to employee compensation, including deductions, taxes, and benefits. Payroll ensures that employees are accurately compensated for their work, taking into account factors such as hours worked, deductions, overtime, and any applicable bonuses or incentives.

Key roles of payroll include:

  • Employee Compensation
  • Deductions
  • Tax Compliance
  • Payroll Processing
  • Payroll Distribution