Payroll refers to the process by which employees manage to receive their salary. There are many modes in which the payroll process is managed. It can be done in-house by a company through the human resource department or it can be outsourced. It’s important to note that in some companies, the human resource department is separate from this department. Naturally, there are some facts about payroll data, reporting taxes, and deposits that are fun to note on a global scale. For instance, without this department, various legislation and compliance issues may come up in a company. Here is a list of some fun facts about payroll and paper checks.
Fun fact 1
America as an industrialized nation is the only known nation globally to tax U.S. citizens who earn money from overseas. Whether the amount received on the payroll is from a foreign country, the U.S. government will tax that paycheck from your payroll. This is done regardless of the fact that you work in a foreign country with no plans of returning to the United States of America. In addition, the payroll week for the United States is in September and this is when these taxes are implemented on pay stock checks.
Fun fact 2
In Sweden, the issue of taking care of babies is very essential. A Swedes employee can be provided 480 days paid leave after childbirth. This shows their generosity in spending time with newborns. Therefore, the payroll department in Sweden is essential in ensuring parents spend as much time with newborn children to ensure that they’re taken care of.
Fun fact 3
These following countries pay income tax for earnings from the payroll department.
- Hong Kong
- United Arab Emirates
Fun fact 4
Citizens of Japan do not have to worry about the commute to work affecting the budget. The department provides commuting allowance calculated from exact routes to and from work. They pay for the commute and so no need to worry about blank payroll checks owing to the amount used during the commute. The payroll check paper will always include the commute and ensure that the salary is paid in full without having to worry about commute amount of money used.
Fun fact 5
A country where employers can expect blank payroll checks due to employer tax burden in France. The tax burden in France is somewhere between 35%-40% of a payroll check. This equates to three-quarters of work performed for every month. In addition, there are countries such as Germany where going to church is linked to a payroll check. Here is the reason why. In order to go to church, you have to contribute church tax. This is accrued from the monthly paycheck and people cannot visit church before this amount is paid. In Brazil, health exams are part of the payroll process and employees do not receive that payroll check paper before a contribution is made via a thorough health exam.
These are but a few of the fun facts about the global payroll process. Naturally, the payroll department in-house or outsourced is essential in ensuring that various compliance issues are met by the company. These payroll facts differ from nation to nation. For companies that are looking to purchase payroll check paper, Stocks Checks is the number one source. We have payroll check paper and specialty envelopes to help run a businesses payroll department. Contact Stock Checks today to receive a free sample of our products at 1-888-391-7898.