* You will be able to define compensable time for different employee types.
* You will be able to describe how garnishments and overtime are calculated.
* You will be able to discuss the calculation and payment of employment taxes.
* You will be able to explain overtime calculation to employees.
Ensure the correct and timely handling of the largest expense of your company and the security of your greatest asset (the employee).
Navigating the many federal, state and local regulatory requirements that oversee the accurate and timely payment of employee wages require understanding each of the different steps in the company payroll process. Understanding how to identify the different employee types is a critical first step. Once the employee type is identified, calculating the wages for the compensable time (to include overtime) are essential to ensure an employees gross wages are accurate. One of the final steps in the payroll process will include various pay deductions, garnishments and employee taxation all leading to the final net pay. The basic payroll cycle will close with the calculation and management of the tax liability payment processing and reporting. The accurate completion of each of these steps will ensure the correct and timely handling of the largest expense of your company and the security of your greatest asset (the employee).
Defining Employee Status
ï Common Law Employee vs. Independent Contractors
ï Statutory and Non-Statutory Employees
ï Exempt vs. Nonexempt
ï Minimum Wage Differences
ï Compensable Time
ï Calculating Overtime
Calculating the Paycheck
ï Allowable Deductions and Garnishments
ï Employee Taxation Calculations
ï Employer Liabilities and Payments
Tricia Richardson, CPP, SPHR, SHRM-SCP with Purposed Payroll Professional
AIPB ,CPP/FPC (Pending) ,ASA ,HR Certification Institute ,CPE ,SHRM ,Additional credit may be available upon request.