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Payroll System

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**Payroll System**

What is Payroll System?

A payroll system is a software or set of processes used to manage and automate the payment of employees. It calculates wages, withholds taxes and deductions (like social security, Medicare, and insurance), and issues paychecks or direct deposits. Payroll systems also generate reports for accounting and tax purposes and ensure compliance with labor laws and tax regulations.

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