Document Code: NeftalyP350
Approved By: Neftaly Malatjie, Chief Executive Officer
Last Reviewed: 21 November 2025
Next Review Date: 21 May 2026
Policy Owner: Neftaly Chief Human Capital Officer (NeftalyCHCR)
NeftalyP350-1: CEO Statement on the Launch of the Neftaly Human Capital Payroll Management Policy
To the Neftaly Chairperson, Neftaly Board, Neftaly Royal Chiefs, and the entire Neftaly Human Capital Community,
I am pleased to launch the Neftaly Human Capital Payroll Management Policy (NeftalyP350).
Payroll management is the cornerstone of employee trust, financial accuracy, and organisational integrity. This policy provides a structured framework for calculating, processing, and disbursing employee remuneration, including salaries, allowances, benefits, deductions, and statutory contributions.
By implementing this policy, Neftaly ensures timely, accurate, and compliant payroll operations that reinforce accountability, transparency, and staff satisfaction.
My message shall end here.
Signed:
Neftaly Malatjie
Chief Executive Officer
Neftaly
NeftalyP350-2: Scope
This policy applies to:
- NeftalyP350-2-1 All Neftaly employees entitled to remuneration.
- NeftalyP350-2-2 All Human Capital and Finance units involved in payroll administration.
- NeftalyP350-2-3 Payroll systems, tools, and templates used for salary computation, reporting, and disbursement.
- NeftalyP350-2-4 Compliance with national labour laws, taxation, and social security obligations.
NeftalyP350-3: Definitions
| Term | Definition |
|---|---|
| Payroll | The process of calculating, processing, and disbursing employee remuneration. |
| Employee | Any individual employed by Neftaly eligible for salary or wages. |
| Employer | Neftaly, responsible for payroll administration, deductions, and reporting. |
| Remuneration | Total pay including basic salary, allowances, bonuses, benefits, and statutory deductions. |
| Payroll System | Digital or manual platform used to manage employee payments. |
| Deductions | Statutory or authorised deductions such as taxes, PAYE, pensions, or contributions. |
NeftalyP350-4: Objectives
The objectives of this policy are to:
NeftalyP350-4-1 Ensure accurate and timely payroll processing for all employees.
NeftalyP350-4-2 Maintain compliance with labour, tax, and statutory regulations.
NeftalyP350-4-3 Safeguard confidentiality and integrity of payroll information.
NeftalyP350-4-4 Standardise payroll procedures across all Neftaly units.
NeftalyP350-4-5 Facilitate audits, reporting, and recordkeeping for payroll operations.
NeftalyP350-4-6 Enhance employee satisfaction through transparency and reliability.
NeftalyP350-5: Roles and Responsibilities
NeftalyP350-5-1 Neftaly Chief Executive Officer (NeftalyCER)
- NeftalyP350-5-1 Approves payroll policies, major payroll adjustments, and critical disbursements.
NeftalyP350-5-2 Neftaly Chief Human Capital Officer (NeftalyCHCR)
- NeftalyP350-5-2-1 Oversees implementation of payroll procedures.
- NeftalyP350-5-2-2 Ensures compliance with statutory and organisational standards.
- NeftalyP350-5-2-3 Approves payroll exceptions and adjustments.
NeftalyP350-5-3 Payroll and Finance Unit
- NeftalyP350-5-3-1 Calculates, processes, and disburses salaries and allowances.
- NeftalyP350-5-3-2 Maintains accurate payroll records.
- NeftalyP350-5-3-3 Prepares monthly, quarterly, and annual payroll reports.
- NeftalyP350-5-3-4 Manages statutory contributions, deductions, and remittances.
NeftalyP350-5-4 Department Heads / Supervisors
- NeftalyP350-5-4-1 Submit accurate attendance, overtime, and leave records for payroll processing.
- NeftalyP350-5-4-2 Verify departmental payroll reports and address discrepancies.
NeftalyP350-5-5 Employees / Staff
- NeftalyP350-5-5-1 Provide accurate personal, banking, and tax information.
- NeftalyP350-5-5-2 Review payslips and report inconsistencies promptly.
NeftalyP350-6: Procedures
NeftalyP350-6-1 Payroll Data Collection
- NeftalyP350-6-1-1 Collect employee information including salary, allowances, deductions, and banking details.
- NeftalyP350-6-1-2 Maintain updated payroll files.
NeftalyP350-6-2 Payroll Calculation
- NeftalyP350-6-2-1 Use Neftaly Payroll System or approved templates to calculate gross and net salaries.
- NeftalyP350-6-2-2 Apply statutory deductions (PAYE, social security, UIF, pensions) accurately.
NeftalyP350-6-3 Payroll Verification and Approval
- NeftalyP350-6-3-1 Department heads review payroll calculations before submission.
- NeftalyP350-6-3-2 NeftalyCHCR or designated payroll supervisor approves final payroll.
NeftalyP350-6-4 Salary Disbursement
- NeftalyP350-6-4-1 Process salary payments through authorised banking channels on the scheduled date.
- NeftalyP350-6-4-2 Ensure employee payslips are issued electronically or physically.
NeftalyP350-6-5 Neftaly Human Capital Payroll Reporting and Compliance
- NeftalyP350-6-5-1 Neftaly Chief Human Capital Officer generates payroll reports for internal audit, tax authorities, and management review.
- NeftalyP350-6-5-2 Neftaly Chief Human Capital Officer submits statutory contributions and tax remittances within required timelines.
- NeftalyP350-6-5-3 Neftaly Chief Human Capital Officer must inform Neftaly Human Capital on expected Payroll or Salary Delays
- NeftalyP350-6-5-4 Neftaly Chief Human Capital Officer must ensure that Payroll is processed on the 26th of each month to allow Neftaly Human Capital to settle their debts
NeftalyP350-6-6 Payroll Recordkeeping
- NeftalyP350-6-6-1 Maintain payroll records securely for a minimum of 5 years.
- NeftalyP350-6-6-2 Ensure data confidentiality and protection.
NeftalyP350-6-7 Payroll Audit and Review
- NeftalyP350-6-7-1 Conduct periodic audits to verify accuracy and compliance.
- NeftalyP350-6-7-2 Investigate discrepancies and implement corrective measures.
NeftalyP350-7: Templates, Documents and Forms
Core Templates:
- NeftalyT350-01: Employee Payroll Information Form
- NeftalyT350-02: Payroll Calculation Sheet
- NeftalyT350-03: Payroll Approval Form
- NeftalyT350-04: Employee Payslip Template
- NeftalyT350-05: Payroll Reconciliation Form
- NeftalyT350-06: Salary Adjustment Request Form
- NeftalyT350-07: Payroll Deduction Register
- NeftalyT350-08: Payroll Remittance Form
- NeftalyT350-09: Monthly Payroll Report Template
- NeftalyT350-10: Payroll Audit Checklist
Extended List (2000+ Templates):
- Payroll dashboards
- Automated deduction schedules
- Bank reconciliation tools
- Employee leave and overtime trackers
- Payroll compliance and reporting templates
NeftalyP350-8: Compliance
All payroll operations must comply with:
- NeftalyP350-8-1 National labour laws, tax regulations, and statutory contributions.
- NeftalyP350-8-2 Neftaly Governance and Financial Management Policies.
- NeftalyP350-8-3 Internal audit, reporting, and confidentiality standards.
Non-compliance may result in corrective, administrative, or disciplinary action.
NeftalyP350-9: Frequently Asked Questions (Preview)
- How often is payroll processed?
- What deductions are applied to my salary?
- Who approves the payroll?
- How do I report a discrepancy in my payslip?
- What statutory contributions are included in payroll?
- How long are payroll records kept?
- How are overtime and allowances calculated?
- Can payroll be adjusted after disbursement?
- How are employee benefits reflected in payroll?
- What is the process for auditing payroll?