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The PEO becomes your payroll service provider, managing the regular compensation of your employees, along with payroll record maintenance and management, payroll compliance, online paystubs and W-2s, payrollmanagement reports, garnishment and deduction administration and PTO accruals. A PEO does NOT.
The Importance of Compliance in HR Payroll Compliance is a cornerstone of HR payrollmanagement. This includes accurately calculating and withholding taxes, adhering to minimum wage laws, and complying with overtime regulations. Effective communication is key to successful HR payrollmanagement.
A few common payroll policies include: Frequency of Paychecks : Confirm payment frequency (weekly, biweekly, monthly) matches your state’s payroll laws. Overtime Calculations : Ensure overtime is calculated accurately according to federal and state laws.
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