What is a retro payment in the HR or payroll?

I: Retro payment is an adjustment in wages that is paid late to a worker to put right underpayment in past. It can be in terms of lost bonuses, salary increases, or pay inaccuracy. As an example, assume that an employee has been promoted in February, but this came into effect in April. In this case the difference in salary that he/she could have been getting in February and March will be paid as a retro payment. It is critical to the accuracy of payroll and the satisfaction of employees as well as the compliance with the laws governing employment.

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