08-16-2017, 10:33 PM
The problem and its Background
The term payroll encompasses every employee of a company who receives a regular wage or other compensation. Some employees may be paid a steady salary while others are paid for hours worked or the number of items produced. All of these different payment methods are calculated by a payroll specialist and the appropriate paychecks are issued. Companies often use objective measuring tools such as timecards or timesheets completed by supervisors to determine the total amount of payroll due each pay period.
In a company, payroll is the sum of all financial records of salaries, wages, bonuses and deductions. The current Federal payroll service environment evolved over many years of incremental changes that have been implemented in different ways across the Government. The influence of Agency-unique interpretation of legislation, regulation, and HR policies have all contributed to a complex set of requirements that, when taken together, create an obstacle to the modernization of payroll systems and processes. Twenty-two Government providers currently deliver Federal civilian payroll services using 14 separate systems. The four largest Department of Agriculture, Department of Defense, Department of Interior, and General Services Administration service over 80 percent of the total civilian payroll, accommodating over 190 different pay plans. Because of age and capacity limitations of payroll processing environments, many service providers have either considered or completed capital investments in payroll systems infrastructure. Over the years, Federal agencies have attained cost savings through consolidation of their payroll operations with Federal payroll providers by Achieving cost avoidance in both capital investment and daily business operations
EPSCO started out in 1995 from very humble beginnings driven by passion, dedication and hard work by all the staff that joined us having a strong belief..