Payroll calculation
Payroll calculation is one of the key responsibilities of an accountant, determining the company’s financial stability and employee trust. In Uzbekistan, the procedure for calculating and paying salaries is regulated by the Labor Code of the Republic of Uzbekistan, the Tax Code, and the Law “On State Extra-Budgetary Funds.”
When calculating salaries, the accountant takes into account the base salary, bonuses, allowances, compensations, and mandatory deductions. The main deductions include personal income tax (12%), pension fund contributions, and other deductions established by law. The employer is also required to pay a unified social payment within the prescribed deadlines.
Salaries must be paid at least twice a month, and all transactions must be properly reflected in accounting records and financial reports. Late payments may result in fines and compensation to employees.
Modern companies actively use 1C:Accounting and other software solutions to automate payroll processing. This minimizes calculation errors and accelerates the preparation of reports through electronic platforms such as my.soliq.uz.
Accurate payroll calculation is not only a legal requirement but also a mark of professionalism, directly influencing the financial stability and reputation of the company.