1: Introduction

1.1 Policy Purpose
This Payroll Processing Policy establishes the standards and procedures for the accurate, secure, and timely processing of wages and salaries at Origin Payroll. The policy ensures that all payroll activities are conducted in compliance with applicable laws and regulations, maintaining the integrity and confidentiality of payroll information.

1.2 Scope of Policy
This policy applies to all employees of Origin Payroll who are involved in the payroll process, including human resources, accounting personnel, and management. It also covers all systems and processes related to payroll management.

2: Payroll Processing Framework

2.1 Payroll Schedule
Origin Payroll will process payroll on a weekly basis. All employees will receive their wages on the Friday of each week. Any changes to the payroll schedule due to public holidays or other circumstances will be communicated at least two weeks in advance.

2.2 Employee Information
It is the responsibility of each employee to ensure that their personal information (e.g., bank account details, address, tax status) is accurate and up to date. Employees must notify the HR department of any changes to their personal information within three business days of the change.

3: Payroll Calculation Procedures

3.1 Time Reporting
All non-exempt employees are required to record their working hours using the company-provided timekeeping system. Hours worked, including overtime, must be approved by the direct supervisor by the end of each pay period.

3.2 Salary Verification
For salaried employees, the HR department will verify the accuracy of salary payments weekly, including any adjustments for bonuses, deductions, or other variations.

3.3 Deductions and Adjustments
Payroll deductions will be made in accordance with legal requirements (e.g., taxes, social security) and employee-authorized deductions (e.g., retirement plans, health insurance premiums). Any adjustments to payroll, including corrections from previous periods, will be processed in the current pay period.

3.4 Overtime Payments
Overtime will be paid in accordance with national and local employment laws. All overtime must be pre-approved by the appropriate manager and will be compensated at the legally required rate.

4: Payroll Processing

4.1 Payroll Verification
Before processing, the payroll team will perform a final review of all payroll-related information to ensure accuracy. This review includes checking hours worked, salary adjustments, and deductions.

4.2 Payroll Approval
Once verified, the payroll summary will be submitted to the Finance Manager for approval. Upon approval, the payroll will be processed.

4.3 Payment Distribution
Wages will be distributed via direct deposit into the employee’s bank account on the designated payday. Employees who do not have a bank account will receive their payments through alternative means as agreed upon with HR.

5: Record Keeping and Privacy

5.1 Payroll Records
Origin Payroll will maintain all payroll records for a minimum period of seven years. Records will include but are not limited to, time cards, payroll reports, tax filings, and proof of payments.

5.2 Data Privacy
Payroll records will be treated as confidential and will only be accessible to authorized personnel. Data protection measures, as outlined in the Data Protection and Privacy Policy, will be strictly enforced to safeguard employee information.

6: Compliance and Audit

6.1 Regulatory Compliance
The payroll process will adhere to all applicable laws and regulations related to employment and payroll processing. Regular updates on legislative changes will be provided to all payroll staff.

6.2 Audits
Regular internal and external audits will be conducted to ensure the accuracy and compliance of the payroll process. Audit findings will be reviewed, and necessary corrective actions will be implemented promptly.

7: Policy Review and Updates

7.1 Periodic Review
This Payroll Processing Policy will be reviewed annually to ensure its effectiveness and compliance with current laws and best practices.

7.2 Updating the Policy
Any updates to this policy must be approved by the HR Director and communicated to all affected staff. Training sessions will be conducted to ensure understanding and compliance with the updated policy.

This comprehensive Payroll Processing Policy ensures that Origin Payroll maintains a reliable, accurate, and compliant payroll system that supports the financial wellbeing of its employees while meeting legal and regulatory obligations.