Question

Question #4

As a payroll administrator, identify which of the following you feel is the most important payroll document or guideline you have/available to you.

• A signed and dated TD1 and TD1ON
• Collective Agreement
• Signed employee contract
• Employment Insurance Act
• Record of Employment Guide
• Employment Standards Act

Pick one from the above list.

1. Define what information it provides.
2. Why you feel this is important.
3. How it relates to the processing of payroll. Provide 3 reasons to justify your choice. You must have at least 3 sentences in each paragraph.
4. Your answer must be in proper essay format: introduction, content and conclusion.

Marking Rubric:

10 Marks

1 mark – selecting a topic

3 marks – for your three reasons why you think this document is important to a payroll administrator

3 marks – for your full explanation of the importance of this document

3 marks – for correct essay format as explained above

Answer 1

First, let me consider a topic – Signed Employment contract,

Here, let me share three reasons why it is important to a payroll administrator, these are as stated below:

• Payroll administrator will perform several activities to initiate payment or compensation of each employee. Here, employees are paid for the total hour worked using hourly rate, such hourly rate data will be found in Signed Employment contract, Payroll administrator will use Signed Employment contract for each employee as a reference to know about the hourly rate. Not all employees will be paid using hourly rate. There are employees who will be paid monthly basis fixed amount and up to some percentage of that fixed amount as incentive. Hence, basic compensation data can be found in the Signed Employment contract for each employee. Payroll administrator will use this data as to process their compensation officially.
• Payroll administrator needs to be compliant to the organizational practices and terms and condition, such practices and terms and conditions are highlighted in the Signed Employment contract, for example: there could be practices maintained in contract like employee would be paid their salary on or before 5^th of any month and any Incentives are to be paid at the end of financial year. Here, such practices are to be followed by Payroll administrator. Keeping such Signed Employment contract as ref. Payroll administrator can eliminate various system discrepancies.
• Signed Employment contract will include extra payout information like Overtime payout information, holiday allowances, etc. it will also include several terms and condition like violation of honor code and poor conduct could lead to termination of employee, Payroll Administrator will take Signed Employment contract as ref. for paying such extra amount to the employee and Payroll Administrator also reserve right not to pay if any situation occurred associated with violation of honor code and poor conduct of employee. Here, they will follow Signed Employment contract and will not pay that employee.

There are several reasons behind importance of maintaining Signed Employment contract, here, these are as stated below:

• Signed Employment contract build an agreement that is enforceable by the court and both parties has some duty to fulfill as defined in it. So, with forming such contract, we can minimize serious level of any dispute.
• This contract also includes terms and conditions, termination clause, salary break down, work description, hence, both party will follow such data and become compliant to avoid any disputes.
• Signed Employment contract will also include dispute resolution techniques, with such techniques; we can resolve disputes either mutually or by taking legal help.