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    1 Reply Latest reply on Mar 9, 2011 8:59 AM by LUCKIEST

    Indian and US payroll system?

    amuthanjrv Wayfarer

      What is the difference between Indian and US payroll system?

        • Indian and US payroll system?
          LUCKIEST Guide

          These are the differences among Indian, U.K and U.S payrolls:

          Differnce between the US and Indian payroll can be broadly categoried on two basis :-
          1. For Contract Employees 
          2. For Salaried Employees 
          For salaried employees, mostly the norms are same, but most of the employees are on contract basis Therefore their classification is mainly on two grounds W2 and 1099. In W2 company pay the taxes and in 1099 employee pay the taxes.
          The contract employee fee is mainly based on hourly basis for which they are billed. But the vendor takes care of the contract employee salary.  This means the company send a time sheet to the vendor and vendor then makes the payment to employee.