End of Month Payroll Checklist 2024
End of month payroll processing involves the calculation and distribution of employee salaries at the end of a particular month. Streamlined payroll processing ensures that employees are rightfully compensated, maintaining morale and trust.
The process begins with collecting employee timesheets and attendance records. Deductions for taxes, benefits, and other withholdings are applied to the gross pay to determine net pay.
Once calculations are complete, deposits are made directly to the employees’ accounts. During this process, compliance with Malaysian labor laws is crucial to avoid legal issues.
The following document includes the steps required for processing monthly payroll in Malaysia.
