Payroll processing refers to the task of managing the payment of wages by a company to its employees.

1. Notify employees. Tell employees to complete their timesheets by the close of business on the last day of the payroll period.
2. Collect timesheets. Obtain timesheets from all employees.
3. Review and approve timesheets.
4. Enter hours worked.
5. Enter wage rate changes.
6. Calculate gross pay.
7. Calculate net pay.
8. Review.

A payroll outsourcing company will process your payroll by gathering your employees' information (hire date, job title, pay rate), obtaining any timecard data, calculating the pay that's due to each employee, and then depositing that pay into their bank account, or issuing a payroll check.

To better manage time and minimize errors, here are four ways to improve your payroll processes:

1. Create a monthly payroll calendar and stick to it.
2. Conduct regular audits.
3. Stay on top of payroll tax policies.
4. Institute a transparent payroll policy.

1. Calculation of TDS to be deducted from employee's monthly salary.
2. Timely depositing TDS to Govt's account and filing of TDS returns.
3. Issuance of Form 16 etc.