Performance and Compensation Management Project
Autor: Maryam • December 28, 2017 • 1,179 Words (5 Pages) • 872 Views
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This file shows payroll disbursement system.
Steps
Responsibility
Timeline
STEP – 1: STARTING OF PAYROLL
a.
Closing of last month’s payroll by Finance Department to enable HR to start entries for new payroll cycle.
Finance
15th of existing month.
STEP – 2 : RECEIVING OF PAYROLL RELATED DATA FROM DEPARTMENTS
a.
Attendance
All Depts.
18th
b.
Deductions of Meals, Fuel, Excess Mobile
Admin
18th
STEP – 3 : HR ACTIVITY IN LIEU OF PAYROLL CYCLE
a.
Incorporate data for:
> Additions/Deletion of Employees in HRMS
> Salary Changes due to confirmation, increments etc.
HR
20th
b.
> Leaves Postings
> Deductions entries in HRMS
HR
22rd
STEP – 4 : VERIFICATION / RECTIFICATION / DISBURSEMENT
a.
Cross Checking of Income Tax entries and re-submission to HR.
Finance
25th
b.
> Incorporating changes (if any)
> Payroll Release / Live run & Submission of final Payroll to Internal Audit.
HR
26th
c.
> All employee related queries of IA – HR has to respond
> All taxation related queries of IA – Finance has to respond
HR/Finance
26th
d.
Clearance from Audit and submission of payroll to Finance
Internal Audit
27th
e.
Bank Transfer
Finance
28th
STEP – 5 : ADHERENCE OF TIMELINES
a.
To ensure timely disbursement of payroll cycle, all stakeholders will ensure 100% compliance of aforementioned timelines. HR will entertain only extremely urgent cases which are pre-approved by MD else all changes will be carry forwarded for next month payroll cycle.
All Depts.
GRADING AND SALARY CONFIGURATION OF SAFFIRE:
Following table shows the grading and salary Configuration
LEVEL
S#
Grade
Position Title
Senior Management
1
A
Chairman
2
B
Managing Director
Middle Management
3
C
Manager
4
D
Assistant Manager
Junior Management
5
E
Senior Executive
6
F
Executive
GRADE WISE SALARY RANGES
S#
Grade
Position
Average Salary
Minimum Salary
Maximum Salary
Level
No of Positions
1
A
Chairman
Salary Package is kept confidential
Sr. Management
1
2
B
Managing Director
Salary Package is kept confidential
1
3
C
Manager
125,000
100,000
150,000
5
4
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