Payslip Reading and Comprehension Training
Employees generally have a difficult time comprehending the net amounts deposited into their bank accounts due to the complex calculations that are used in the compensation process, these difficulties can lead to a number of issues.
As a result of changes in legislation, fluctuations in wage ceilings and floors, and changing tax brackets; members of the human resources departments are constantly made to answer questions put forth regarding pay slips by the staff, wasting valuable time and effort.
Additionally, the complex nature of payroll calculations and the consequent confusion of employees can make it difficult for staff to see the link between performance and compensation. This lack of transparency can lead to reduced motivation and confidence of employees.
Wage calculations vary greatly from country to country based on the laws that are applied. Some examples are items such as tax and social security legislation, and articles related to business and financial liabilities, all of which can be take a significant amount of time and effort to interpret and stay up to date with.
Switching from gross to net and conversely from net to gross numbers requires that the various compensation rules and regulations be taken into consideration along with the payroll techniques. This can be achieved in an effective and easy fashion through the proper training provided by seasoned professionals.
Our firm offers a combination of practical training in payslip comprehension and legal information related to the compensation process that are relevant to employees. Thanks to our highly capable team of trainers who have experience with payroll consulting to both global and local companies, and outsourcing services; you can rely on us to relieve your human resources department from the burdens of payslip reading and comprehension issues that employees face.
Please contact us for further information
What is a payslip?
- Review of relevant labour law provisions.
- Recruitment declarations and personnel files
- Calculating wages and calculation methods
- Earnings - deductions and social security payments
- Summary of financial statements
- Tax and social security obligations of earnings
- Employer provided private pension and private health insurance operations
- Employee owned retirement plan and private health insurance operations
- Payment of monthly premiums and premiums with certificates of service
- Premium and non-premium based wages
- Missing day notices
- Notifications of on the job accidents
- Notifications of departures from work
- Acquittance pay, Severance pay and payment in lieu of notice
- Annual paid leave and leave payslips General Discussion / Q & A