Glossary
Pay Register
Meaning & Definition
A pay register is a formal payroll document that contains information regarding salaries/wages paid to the employees for a certain period. It could contain information related to employees, their attendance, wages, deductions, overtime, and net payments. It helps employers maintain accurate payroll information.
Important Aspects of Pay Register
- Maintains accurate information about the employee’s wages or salary.
- Useful for the HR and payroll team in keeping track of salary and deductions.
- Useful in carrying out payroll audits and statutory inspections.
- Evidence of wage payments and payroll transactions.
- Helps in meeting the relevant recordkeeping obligations.
Applicable Rules & Regulations
Code on Wages Act, 2019 mandates that employers keep registers and records concerning the employees and their wages in the prescribed manner.
