Payroll Analyst Interview Questions and Answers

The phrase 'All business is personal' means that business decisions and interactions are influenced by personal emotions, relationships, and experiences.

• Business relationships are often built on personal connections and trust

• Personal values and beliefs can impact business decisions

• Emotions and experiences can affect how individuals approach work tasks

• Conflict in personal relationships can spill over into work dynamics

• Examples: A manager promoting a friend over a more qualifie...read more

Allowances such as HRA, LTA, and medical expenses are covered under income tax exemptions.

• House Rent Allowance (HRA) is exempt up to certain limits based on salary and rent paid

• Leave Travel Allowance (LTA) is exempt for actual travel expenses within India

• Medical allowances for medical expenses incurred by the employee or family members

Validation checks in payroll process ensure accuracy and compliance.

• Verification of employee hours worked

• Validation of employee tax withholdings

• Confirmation of employee benefits deductions

• Cross-checking of payroll data with attendance records

• Review of overtime calculations

• Validation of pay rates and salary adjustments

The payroll process involves calculating and distributing employee salaries and benefits.

• Collecting employee time and attendance data

• Calculating wages and deductions

• Distributing paychecks or direct deposits

• Ensuring compliance with tax laws and regulations

• Maintaining accurate payroll records