What does LOP in payroll actually indicate?
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The LOP full form in payroll "Loss of Pay" and it is a term that payroll departments use to determine salary deductions for days of unpaid leave. Typically the deduction will be a percentage determined by the employee's daily wage and the number of unpaid days in the pay period. Knowing what LOP means in the payroll world is essential for employees to correctly understand their salary slips and the payroll calculations.