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Payroll: meaning, definitions and examples

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payroll

 

[ˈpeɪˌroʊl ]

Definition

Context #1 | Noun

business management

Payroll refers to the process by which employers compensate their employees for work performed. It involves calculating wages, withholding taxes, and distributing payments. The payroll process can vary in complexity depending on the size of the organization and the employment regulations in place. Proper management of payroll is crucial for maintaining employee satisfaction and ensuring compliance with financial laws.

Synonyms

payment schedule, salary list, wage sheet.

Examples of usage

  • The finance department is responsible for managing the payroll.
  • He reviewed the payroll to ensure all employees were paid accurately.
  • Our company switched to an automated payroll system last year.
  • Every month, we have to submit the payroll reports to the government.

Interesting Facts

Etymology

  • The term 'payroll' originated from the combination of 'pay', meaning to give money, and 'roll', referring to a list of names.
  • Historically, 'payroll' referred to a physical roll of paper where workers' names and wages were written down.

Business Practices

  • Modern payroll systems often use software to help companies calculate wages accurately and on time.
  • Hourly and salaried compensation is differentiated in payroll, with unique calculations for overtime or bonuses.

Economic Impact

  • Payroll is crucial for local economies, as it directly influences consumer spending and overall economic health.
  • Tax contributions from payroll help fund public services like education and infrastructure.

Cultural Perspectives

  • In many cultures, payday is a celebrated event, often marked by special traditions or treats.
  • Cultural attitudes toward salary transparency can vary, affecting how businesses manage their payroll.

Legal Considerations

  • There are strict regulations regarding payroll, including minimum wage laws and tax withholding requirements.
  • Failure to comply with payroll regulations can result in penalties and legal issues for businesses.

Translations

Translations of the word "payroll" in other languages:

🇵🇹 folha de pagamento

🇮🇳 पे-रोल

🇩🇪 Lohnabrechnung

🇮🇩 penggajian

🇺🇦 зарплатна відомість

🇵🇱 lista płac

🇯🇵 給与

🇫🇷 paie

🇪🇸 nómina

🇹🇷 maaş bordrosu

🇰🇷 급여

🇸🇦 كشف الرواتب

🇨🇿 mzdová agenda

🇸🇰 mzda

🇨🇳 工资单

🇸🇮 plača

🇮🇸 launaskrá

🇰🇿 жалақы тізімі

🇬🇪 ხელფასების ჩამონათვალი

🇦🇿 məzuniyyət siyahısı

🇲🇽 nómina

Word Frequency Rank

At #6,935 in frequency, this word belongs to advanced vocabulary. It's less common than core vocabulary but important for sophisticated expression.