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Payroll management is the administrative task of compensating employees for services rendered. It also provides a financial record of employee gross earnings, payroll deductions and net pay, as well as the employer’s related payroll tax liability. Payroll management involves calculating wages, withholding taxes, making payments, and maintaining records. Payroll management can be done manually, using software, or by outsourcing to a third-party provider or a professional employer organization (PEO). Payroll management helps employers comply with legal requirements, improve employee engagement, and manage business finances
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