Payroll means sum of monetary figures of an employee’s salary, wages, bonus, benefits, incentives as well as deductions. Whereas outsourcing means due to some reason an organization following the practice of getting its job functions done by an outside company or a third person instead of getting it done by its in-house employees. Hence, Payroll Outsourcing means appointing a third party to maintain payroll details of the employees and fulfilling all the duties and responsibilities of payroll management on behalf of the organization.
