Payroll

This query is : Resolved

Rengasamy.R (Querist)
Follow

26 February 2013 Dear Sir

I just want to know what are the aspects to be verified in payroll, if we are the statutory auditor of the listed company.
i want to know each and everything in payroll.

Kindly help me in this regard
rengasamy

@VaibhavJ

@VaibhavJ (Expert)
Follow

26 February 2013 Hi,

You got to see compliance as per various statutory laws:

PF,
ESIC,
PT,
LWF,
Income Tax,
Perquisite,
Exemption Allowed,
Gratuity,
Leave Encashment,
Bonus payment.

Also need to check timely payment of these aspects.

Thanks!!

Rengasamy.R

Rengasamy.R (Querist)
Follow

26 February 2013 Dear Sir

Relating to new joined employees and resigned employees, revision of salary, salary calculation etc

Upgrade to CAclubindia Pro. Subscribe Now!

@VaibhavJ

@VaibhavJ (Expert)
Follow

26 February 2013 Hi,

For new joined employees you should check:

Appointment letter & tie up amount with payroll processed..

For resignees you should check no payment is made post date of resignation.

All revision of salary has been approved by authorised personnel, expense is booked properly in case of arrears & payout is made.

For resignee you can also check that they have been paid Stat Bonus & if any unclaimed Wages then same has been submtted to LWF after 3 years.

Thanks!!

Rengasamy.R

Rengasamy.R (Querist)
Follow

26 February 2013 Dear Sir

Thank you for immediate replies,if any thing more that i have to check up, let me know.

Thanks
rengasamy

@VaibhavJ

@VaibhavJ (Expert)
Follow

26 February 2013 Hi

Also you have to check Minimum wages, shop & est. Act compliance.

Thanks!!