Time keeping department-managing the labor cost

Question

In managing the labor cost what role does time keeping department play?

Answer 1

The major action of time keeping department in managing the labor cost are illustrated below:

1) To maintain regularity and discipline.

2) Meeting the statutory needs.

3) To record the departure and arrival timings of workers to discriminate between normal times, overtime, delay in attendance and early on leaving.

4) Preparation of pay rolls.

5) To compute overhead rates.

6) Required for research and other reasons.

7) Fringe advantages are also computed on time keeping records.