What elements are included in a business's payroll policy?

Asked 4 months ago

I am drawing up a payroll process for my business. I want to make sure I do not miss any regulations or requirements. I’m not familiar with some of the laws for payroll policies, but I want to avoid any unwanted penalties. Can someone please advise me on the main things I need to include in my business payroll policy?

Jadiel Macdonald

Monday, August 08, 2022

Your payroll policy should define details about your payroll process such as:

  • Workweek beginning and end
  • Breaks and/or lunch periods
  • Timekeeping procedures
  • Overtime rules
  • Holiday pay
  • Expense reimbursement
  • Pay period beginning and end
  • Hourly and salary pay dates
  • Direct deposit or paper check payments
  • Amount and treatment of taxes, garnishments, or voluntary benefits deductions
  • Pay increases, adjustments, and advances
  • Final paycheck procedures

You will need to consult federal and state regulations to determine what the rules will be for your business.

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