Wipro Payroll Executive Interview Questions and Answers

Provident fund contributions are mandatory savings for employees, ensuring financial security post-retirement.

• Provident funds are retirement savings schemes mandated by law in many countries.

• Typically, both employer and employee contribute a percentage of the employee's salary.

• For example, in India, the Employee Provident Fund (EPF) requires a contribution of 12% from both parties.

• The accumulated amount earns interest,...read more

Key points to check in a pay sheet include accuracy, compliance, and deductions to ensure correct employee compensation.

• Verify employee details: Ensure names, IDs, and designations are correct.

• Check hours worked: Confirm that recorded hours match timesheets.

• Review pay rates: Ensure the correct hourly or salary rates are applied.

• Calculate deductions: Verify taxes, benefits, and other deductions are accurate.

• Cross-check ...read more

Gratuity is calculated based on an employee's last drawn salary and years of service, following specific formulas.

• Gratuity = (Last drawn salary × 15/26) × Number of years of service.

• For example, if the last drawn salary is $3,000 and the employee has served for 10 years: Gratuity = ($3,000 × 15/26) × 10.

• The formula applies to employees who have completed at least 5 years of continuous service.

• In some countries, gratuit...read more