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Detailed information about payroll

i need prescribed information about payroll i m student of mba finance

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Compensation of employees is either direct compensation in the form of monetary benefits or indirect compensation in the form of non-monetary benefits.

Direct compensation includes
- basic salary
- overtime
- bonus
- special allowances
- house rent allowance
- conveyance
- leave travel allowance
- medical reimbursements.

Indirect compensation may be provided in the form of
- time off
- retirement benefits
- insurance
- company car
- hospitalization
- leave travel assistance
- holiday homes.

Employers are obliged to deduct several items from their employee’s pay such as
- payroll taxes
- social
- medical insurance
- state taxes

- 401k
- eventually child or spousal support

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