Payroll Management Lab detailed syllabus for Computer Application & Business Management (CB) for 2021 revision curriculum has been taken from the SITTTRs official website and presented for the Computer Application & Business Management students. For course code, course name, number of credits for a course and other scheme related information, do visit full semester subjects post given below.
For Computer Application & Business Management 4th Sem scheme and its subjects, do visit Computer Application & Business Management (CB) 4th Sem 2021 revision scheme. The detailed syllabus of payroll management lab is as follows.
Course Objectives:
- To provide a hands on experience on activities related to maintaining employee data for the Human Resource (HR) department which includesentering all necessary payroll data into the organization’s data system, calculating each employee’s respective pay, computing statutory and tax related entitlements and deductions.
Course Outcomes:
On completion of the course, students will be able to:
- Build and maintain employee records for compensation and benefits calculations
- Develop and process statutory entitlements for finalizing compensation and benefits-PF & ESI 1
- Develop and process statutory entitlements for finalizing compensation and benefits-Tax
- Implement payroll data. Create a Dashboard for data presentation.
Module 1:
- Understand concept of employee compensation and its components- Statutory deduction like NPS, PF, ESI, Income Tax, Professional Tax etc
- Determine, maintain employee data and update records of new employees
- Collect and update the resignation details of the employee submit status to various departments as per organizational procedure
- Extract leave and overtime related data from various attendance taking tools and update leave details of employees into the database
- Calculate monetary impact of leave without pay and overtime details of employees and update records
- Receive tax related investment and other declarations in the format provided by finance department from all employees and enter details
Module 2:
- Identify and ascertain relevant concepts and terms regarding provident fund deduction concepts and terms: eg. Employee’s contribution, employer’s contribution, minimum and maximum PF deduction allowed, government website through which payment is to be made, eligibility criteria, etc.
- Calculate the amount of PF to be deducted individually from employees’ salaries
- Calculate the amount of PF deducted totally that needs to be submitted to the government account
- Calculate the amount of ESI to be deducted individually from employees’ salaries
- Calculate the amount of ESI deducted totally that needs to be submitted to the government account
- Prepare statements related to all statutory dues -PF, ESIC, professional tax, etc.
Module 3:
- Determine entitlement to statutory payments provident fund (PF), employees state insurance (ESI), professional tax, etc. and consider them for tax deductions
- Understand the major Tax Deduction section as per latest Income tax act
- Calculate taxable income by considering Gross salary tax deduction claimed by the employee under various sections like 80C, 80D etc Statutory reduction of PF, ESI etc
- Calculate Tax Deducted at Source (TDS) for each employee as per latest income tax slabs
- Maintain a record of TDS collected by employee for making payments to tax authorities.
Module 4:
- Prepare a Master payroll excel sheet which takes input from other sheets as per requirements.
- Enter employee information for which salaries are to be processed fetching data from other excel sheets
- Enter pay period/month, employee attendance details and any deductions and allowances in payroll system in accordance with source documents
- Calculate Gross and Net salaries payable. And prepare a statement for the same.
- Create a Dashboard for the payroll sheet for effective data presentation.
- Open Ended Experiments
Reference Books:
- Ajeet R. Rawat, The Root of Payroll Management, 2020 edition
- Steven M Bragg, Payroll Management: 2020 Edition, Publisher: Wiley, December 2019.
- DewakarGoel, Performance Appraisal and Compensation Management, PHI Learning, New Delhi.
- ER Sonia,Shyam Singh, Compensation Management, Excel Books, Kindle First Edition.
Online Resources
- https://www.greythr.com/complete-guide-payroll/
- https://cleartax.in/s/payroll-management
- https://www.tutorialspoint.com/excel/index.htm
- https://pdf.co/blog/payroll-management
For detailed syllabus of all other subjects of Computer Application & Business Management (CB), 2021 revision curriculum do visit Computer Application & Business Management 4th Sem subject syllabuses for 2021 revision.
To see the syllabus of all other branches of diploma 2021 revision curriculum do visit SITTTR diploma all branches syllabus..
To see the results of Computer Application & Business Management (CB) of diploma 2021 revision curriculum do visit SITTTR diploma Computer Application & Business Management (CB) results..
For all Computer Application & Business Management academic calendars, visit Computer Application & Business Management all semesters academic calendar direct link.