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Paychex Inc – ‘10-Q’ for 2/29/20 – ‘EX-101.LAB’

On:  Friday, 3/27/20, at 4:25pm ET   ·   For:  2/29/20   ·   Accession #:  723531-20-17   ·   File #:  0-11330

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  As Of               Filer                 Filing    For·On·As Docs:Size

 3/27/20  Paychex Inc                       10-Q        2/29/20   91:19M

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.60M 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     37K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     37K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     31K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     31K 
49: R1          Document and Entity Information                     HTML     79K 
78: R2          Consolidated Statements of Income and               HTML     87K 
                Comprehensive Income                                             
68: R3          Consolidated Balance Sheets                         HTML    150K 
20: R4          Consolidated Balance Sheets (Parenthetical)         HTML     36K 
48: R5          Consolidated Statements of Stockholders' Equity     HTML     76K 
77: R6          Consolidated Statements of Stockholders' Equity     HTML     29K 
                (Parenthetical)                                                  
67: R7          Consolidated Statements of Cash Flows               HTML    122K 
19: R8          Description of Business, Basis of Presentation,     HTML     97K 
                and Significant Accounting Policies                              
50: R9          Service Revenue                                     HTML    342K 
32: R10         Basic and Diluted Earnings Per Share                HTML    141K 
24: R11         Business Combinations                               HTML    114K 
52: R12         Other (Expense)/Income, Net                         HTML     85K 
82: R13         Funds Held for Clients and Corporate Investments    HTML    530K 
33: R14         Fair Value Measurements                             HTML    450K 
25: R15         Leases                                              HTML    152K 
53: R16         Property and Equipment, Net of Accumulated          HTML     86K 
                Depreciation                                                     
83: R17         Goodwill and Intangible Assets, Net of Accumulated  HTML    107K 
                Amortization                                                     
34: R18         Accumulated Other Comprehensive Income/(Loss)       HTML    123K 
23: R19         Short-term Financing                                HTML    286K 
70: R20         Long-Term Financing                                 HTML     83K 
79: R21         Commitments and Contingencies                       HTML     37K 
46: R22         Income Taxes                                        HTML     33K 
17: R23         Description of Business, Basis of Presentation,     HTML    114K 
                and Significant Accounting Policies (Policy)                     
71: R24         Service Revenue (Tables)                            HTML    314K 
80: R25         Basic and Diluted Earnings Per Share (Tables)       HTML    133K 
47: R26         Business Combinations (Tables)                      HTML    102K 
18: R27         Other (Expense)/Income, Net (Tables)                HTML     83K 
69: R28         Funds Held for Clients and Corporate Investments    HTML    519K 
                (Tables)                                                         
81: R29         Fair Value Measurements (Tables)                    HTML    433K 
86: R30         Leases (Tables)                                     HTML    147K 
56: R31         Property and Equipment, Net of Accumulated          HTML     83K 
                Depreciation (Tables)                                            
22: R32         Goodwill and Intangible Assets, Net of Accumulated  HTML    104K 
                Amortization (Tables)                                            
31: R33         Accumulated Other Comprehensive Income/(Loss)       HTML    119K 
                (Tables)                                                         
85: R34         Short-term Financing (Tables)                       HTML    263K 
55: R35         Long-Term Financing (Tables)                        HTML     81K 
21: R36         Description of Business, Basis of Presentation,     HTML     83K 
                and Significant Accounting Policies (Narrative)                  
                (Details)                                                        
30: R37         Service Revenue (Narrative) (Details)               HTML     50K 
84: R38         Service Revenue (Narrative) (Performance            HTML     38K 
                Obligation) (Details)                                            
57: R39         Service Revenue (Summary of Disaggregates Revenue   HTML     35K 
                by Services) (Details)                                           
74: R40         Service Revenue (Summary of Changes in Deferred     HTML     34K 
                Revenue Related to Material Right Performance                    
                Obligations) (Details)                                           
63: R41         Service Revenue (Summary of Changes in Deferred     HTML     40K 
                Costs to Obtain and Fulfill Contracts) (Details)                 
16: R42         Basic and Diluted Earnings Per Share (Narrative)    HTML     51K 
                (Details)                                                        
45: R43         Basic and Diluted Earnings Per Share (Basic and     HTML     55K 
                Diluted Earnings Per Share) (Details)                            
73: R44         Business Combinations (Narrative) (Details)         HTML     58K 
62: R45         Business Combinations (Acquisition Date Fair        HTML     80K 
                Values To Acquired Net Assets) (Details)                         
15: R46         Business Combinations (Summary Of Pro Forma         HTML     31K 
                Information) (Details)                                           
44: R47         Other (Expense)/Income, Net (Schedule of Interest   HTML     37K 
                (Expense)/Income, Net) (Details)                                 
72: R48         Funds Held for Clients and Corporate Investments    HTML     48K 
                (Narrative) (Details)                                            
64: R49         Funds Held for Clients and Corporate Investments    HTML     82K 
                (Funds Held for Clients and Corporate Investments)               
                (Details)                                                        
59: R50         Funds Held for Clients and Corporate Investments    HTML     37K 
                (Classification of Investments on Consolidated                   
                Balance Sheets) (Details)                                        
87: R51         Funds Held for Clients and Corporate Investments    HTML     57K 
                (Securities in Unrealized Loss Position) (Details)               
38: R52         Funds Held for Clients and Corporate Investments    HTML     33K 
                (Realized Gains and Losses from Sale of                          
                Available-for-sale Securities) (Details)                         
28: R53         Funds Held for Clients and Corporate Investments    HTML     53K 
                (Amortized Cost and Fair Value of                                
                Available-for-Sale Securities by Contractual                     
                Maturity) (Details)                                              
60: R54         Fair Value Measurements (Narrative) (Details)       HTML     31K 
88: R55         Fair Value Measurements (Financial Assets and       HTML     79K 
                Liabilities Measured at Fair Value on Recurring                  
                Basis) (Details)                                                 
39: R56         Fair Value Measurements (Financial Liabilities      HTML     53K 
                Measured at Fair Value on Non-Recurring Basis)                   
                (Details)                                                        
29: R57         Leases (Narrative) (Details)                        HTML     42K 
58: R58         Leases (Supplemental Balance Sheet Information      HTML     39K 
                Related to Leases) (Details)                                     
89: R59         Leases (Components of Lease Expense) (Details)      HTML     34K 
40: R60         Leases (Supplemental Cash Flow Information Related  HTML     33K 
                to Leases) (Details)                                             
12: R61         Leases (Future Lease Payments) (Details)            HTML     53K 
65: R62         Property and Equipment, Net of Accumulated          HTML     30K 
                Depreciation (Narrative) (Details)                               
75: R63         Property and Equipment, Net of Accumulated          HTML     54K 
                Depreciation (Components of Property and                         
                Equipment, at Cost) (Details)                                    
41: R64         Goodwill and Intangible Assets, Net of Accumulated  HTML     32K 
                Amortization (Narrative) (Details)                               
13: R65         Goodwill and Intangible Assets, Net of Accumulated  HTML     38K 
                Amortization (Change in Goodwill) (Details)                      
66: R66         Goodwill and Intangible Assets, Net of Accumulated  HTML     38K 
                Amortization (Components of Intangible Assets, at                
                Cost) (Details)                                                  
76: R67         Goodwill and Intangible Assets, Net of Accumulated  HTML     39K 
                Amortization (Estimated Amortization Expense)                    
                (Details)                                                        
43: R68         Accumulated Other Comprehensive Income/(Loss)       HTML     49K 
                (Changes in Accumulated Other Comprehensive                      
                Income/(Loss)) (Details)                                         
11: R69         Short-term Financing (Narrative) (Details)          HTML    124K 
27: R70         Short-term Financing (Description of Credit         HTML     47K 
                Facilities) (Details)                                            
37: R71         Short-term Financing (Credit Facility Amount        HTML     50K 
                Borrowed) (Details)                                              
91: R72         Long-Term Financing (Narrative) (Details)           HTML     41K 
61: R73         Long-Term Financing (Schedule Of Long-Term Debt)    HTML     43K 
                (Details)                                                        
26: R74         Long-Term Financing (Information Related To Senior  HTML     47K 
                Notes) (Details)                                                 
35: R75         Commitments and Contingencies (Narrative)           HTML     28K 
                (Details)                                                        
90: R76         Income Taxes (Narrative) (Details)                  HTML     30K 
51: XML         IDEA XML File -- Filing Summary                      XML    177K 
36: XML         XBRL Instance -- payx-20200229x10q_htm               XML   5.90M 
42: EXCEL       IDEA Workbook of Financial Reports                  XLSX     98K 
 7: EX-101.CAL  XBRL Calculations -- payx-20200229_cal               XML    267K 
 8: EX-101.DEF  XBRL Definitions -- payx-20200229_def                XML    602K 
 9: EX-101.LAB  XBRL Labels -- payx-20200229_lab                     XML   1.46M 
10: EX-101.PRE  XBRL Presentations -- payx-20200229_pre              XML   1.06M 
 6: EX-101.SCH  XBRL Schema -- payx-20200229                         XSD    201K 
14: JSON        XBRL Instance as JSON Data -- MetaLinks              357±   561K 
54: ZIP         XBRL Zipped Folder -- 0000723531-20-000017-xbrl      Zip    287K

‘EX-101.LAB’   —   XBRL Labels — payx-20200229_lab

This Exhibit is an XBRL XML File.

                                                                                                                                                                                
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<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CoverAbstract" xlink:label="dei_CoverAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
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<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Statement [Table] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Statement [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Statement [Line Items] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Statement [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Document Type </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentQuarterlyReport" xlink:label="dei_DocumentQuarterlyReport" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Document Quarterly Report </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Current Fiscal Year End Date </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Current Fiscal Year End Date </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Document Period End Date </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Document Transition Report </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity File Number </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Registrant Name </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Registrant Name </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Address, Address Line One </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Address, City or Town </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Address, State or Province </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Address, Postal Zip Code </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> City Area Code </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Local Phone Number </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Incorporation, State or Country Code </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Tax Identification Number </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Title of 12(b) Security </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Trading Symbol </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Security Exchange Name </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Current Reporting Status </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Current Reporting Status </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Interactive Data Current </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Filer Category </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Filer Category </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Small Business </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Emerging Growth Company </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Shell Company </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Common Stock, Shares Outstanding </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Common Stock, Shares Outstanding </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amendment Flag </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amendment Flag </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Document Fiscal Period Focus </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Document Fiscal Period Focus </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Document Fiscal Year Focus </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Document Fiscal Year Focus </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Central Index Key </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity Central Index Key </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Consolidated Statements of Income and Comprehensive Income [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="srt_ProductOrServiceAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ProductOrServiceAxis" xlink:to="srt_ProductOrServiceAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ProductOrServiceAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Product and Service [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="srt_ProductsAndServicesDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ProductsAndServicesDomain" xlink:to="srt_ProductsAndServicesDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ProductsAndServicesDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Products And Services [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ProductsAndServicesDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Product and Service [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ManagementSolutionsMember" xlink:label="payx_ManagementSolutionsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ManagementSolutionsMember" xlink:to="payx_ManagementSolutionsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ManagementSolutionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Management Solutions [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ManagementSolutionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Management Solutions [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_ManagementSolutionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Management Solutions [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_PeoAndInsuranceServicesMember" xlink:label="payx_PeoAndInsuranceServicesMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_PeoAndInsuranceServicesMember" xlink:to="payx_PeoAndInsuranceServicesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_PeoAndInsuranceServicesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> PEO And Insurance Services [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_PeoAndInsuranceServicesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Peo And Insurance Services [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_PeoAndInsuranceServicesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> PEO And Insurance Solutions [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenues [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:label="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:to="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue from Contract with Customer, Excluding Assessed Tax </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total service revenue </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestIncomeOperating" xlink:label="us-gaap_InterestIncomeOperating" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestIncomeOperating" xlink:to="us-gaap_InterestIncomeOperating_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestIncomeOperating_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Interest Income, Operating </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestIncomeOperating_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Interest on funds held for clients </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenues </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total revenue </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Expenses [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Expenses: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingCostsAndExpenses" xlink:label="us-gaap_OperatingCostsAndExpenses" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingCostsAndExpenses" xlink:to="us-gaap_OperatingCostsAndExpenses_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingCostsAndExpenses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Costs and Expenses </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingCostsAndExpenses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating expenses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SellingGeneralAndAdministrativeExpense" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Selling, General and Administrative Expense </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Selling, general and administrative expenses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Expenses </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total expenses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Income (Loss) </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestIncomeExpenseNonoperatingNet" xlink:label="us-gaap_InterestIncomeExpenseNonoperatingNet" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestIncomeExpenseNonoperatingNet" xlink:to="us-gaap_InterestIncomeExpenseNonoperatingNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestIncomeExpenseNonoperatingNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Interest Income (Expense), Nonoperating, Net </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestIncomeExpenseNonoperatingNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other (expense)/income, net </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_InterestIncomeExpenseNonoperatingNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other (expense)/income, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Income before income taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Income Tax Expense (Benefit) </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Income taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net Income (Loss) Available to Common Stockholders, Basic </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net income </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net income </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent" xlink:to="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total other comprehensive income, net of tax </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other comprehensive income, net of tax </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Comprehensive Income (Loss), Net of Tax, Attributable to Parent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="us-gaap_EarningsPerShareBasic" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Earnings Per Share, Basic </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Basic earnings per share </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="us-gaap_EarningsPerShareDiluted" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Earnings Per Share, Diluted </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Diluted earnings per share </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted Average Number of Shares Outstanding, Basic </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted-average common shares outstanding </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted Average Number of Shares Outstanding, Diluted </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted-average common shares outstanding, assuming dilution </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted-average common shares outstanding, assuming dilution </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Consolidated Balance Sheets [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Assets [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash and Cash Equivalents, at Carrying Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash and cash equivalents </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RestrictedCashCurrent" xlink:label="us-gaap_RestrictedCashCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashCurrent" xlink:to="us-gaap_RestrictedCashCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Restricted Cash, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RestrictedCashCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Restricted cash </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MarketableSecuritiesCurrent" xlink:label="us-gaap_MarketableSecuritiesCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MarketableSecuritiesCurrent" xlink:to="us-gaap_MarketableSecuritiesCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MarketableSecuritiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Marketable Securities, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_MarketableSecuritiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Corporate investments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestReceivableCurrent" xlink:label="us-gaap_InterestReceivableCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestReceivableCurrent" xlink:to="us-gaap_InterestReceivableCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestReceivableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Interest Receivable, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestReceivableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Interest receivable </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccountsNotesAndLoansReceivableNetCurrent" xlink:label="us-gaap_AccountsNotesAndLoansReceivableNetCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsNotesAndLoansReceivableNetCurrent" xlink:to="us-gaap_AccountsNotesAndLoansReceivableNetCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsNotesAndLoansReceivableNetCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounts, Notes, Loans and Financing Receivable, Net, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccountsNotesAndLoansReceivableNetCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounts receivable, net of allowance for doubtful accounts </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_UnbilledReceivablesCurrent" xlink:label="us-gaap_UnbilledReceivablesCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnbilledReceivablesCurrent" xlink:to="us-gaap_UnbilledReceivablesCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnbilledReceivablesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Unbilled Receivables, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_UnbilledReceivablesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> PEO unbilled receivables, net of advance collections </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PrepaidTaxes" xlink:label="us-gaap_PrepaidTaxes" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidTaxes" xlink:to="us-gaap_PrepaidTaxes_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidTaxes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Prepaid Taxes </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PrepaidTaxes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Prepaid income taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Prepaid Expense and Other Assets, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Prepaid expenses and other current assets </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_CurrentAssetsBeforeFundsHeldForClients" xlink:label="payx_CurrentAssetsBeforeFundsHeldForClients" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_CurrentAssetsBeforeFundsHeldForClients" xlink:to="payx_CurrentAssetsBeforeFundsHeldForClients_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_CurrentAssetsBeforeFundsHeldForClients_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Current assets before funds held for clients. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_CurrentAssetsBeforeFundsHeldForClients_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Current assets before funds held for clients </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="payx_CurrentAssetsBeforeFundsHeldForClients_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Current assets before funds held for clients </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FundsHeldForClients" xlink:label="us-gaap_FundsHeldForClients" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FundsHeldForClients" xlink:to="us-gaap_FundsHeldForClients_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FundsHeldForClients_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held for Clients </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FundsHeldForClients_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds held for clients </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Assets, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total current assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RestrictedCashNoncurrent" xlink:label="us-gaap_RestrictedCashNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashNoncurrent" xlink:to="us-gaap_RestrictedCashNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Restricted Cash, Noncurrent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestrictedCashNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term restricted cash </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesNoncurrent" xlink:label="us-gaap_AvailableForSaleSecuritiesNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesNoncurrent" xlink:to="us-gaap_AvailableForSaleSecuritiesNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Noncurrent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term corporate investments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property, Plant and Equipment, Net </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property and equipment, net of accumulated depreciation </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property and equipment, net of accumulated depreciation </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseRightOfUseAsset" xlink:to="us-gaap_OperatingLeaseRightOfUseAsset_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating lease, right-of-use asset </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating lease right-of-use assets, net of accumulated amortization </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:to="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Intangible Assets, Net (Excluding Goodwill) </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Intangible assets, net of accumulated amortization </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Intangible assets, net of accumulated amortization </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Goodwill" xlink:label="us-gaap_Goodwill" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Goodwill" xlink:to="us-gaap_Goodwill_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill Balance, end of period </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill Balance, beginning of period </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CapitalizedContractCostNetNoncurrent" xlink:label="us-gaap_CapitalizedContractCostNetNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedContractCostNetNoncurrent" xlink:to="us-gaap_CapitalizedContractCostNetNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizedContractCostNetNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost, Net, Noncurrent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalizedContractCostNetNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term deferred costs </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="us-gaap_OtherAssetsNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrent" xlink:to="us-gaap_OtherAssetsNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Assets, Noncurrent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other long-term assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Assets </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="us-gaap_LiabilitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Liabilities [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="us-gaap_AccountsPayableCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounts Payable, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccountsPayableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounts payable </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:to="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Employee-related Liabilities, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accrued corporate compensation and related items </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AccruedWorksiteEmployeeCompensationAndRelatedItems" xlink:label="payx_AccruedWorksiteEmployeeCompensationAndRelatedItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AccruedWorksiteEmployeeCompensationAndRelatedItems" xlink:to="payx_AccruedWorksiteEmployeeCompensationAndRelatedItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AccruedWorksiteEmployeeCompensationAndRelatedItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accrued Worksite Employee Compensation And Related Items </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AccruedWorksiteEmployeeCompensationAndRelatedItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accrued Worksite Employee Compensation And Related Items </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_AccruedWorksiteEmployeeCompensationAndRelatedItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accrued worksite employee compensation and related items </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShortTermBorrowings" xlink:label="us-gaap_ShortTermBorrowings" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermBorrowings" xlink:to="us-gaap_ShortTermBorrowings_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShortTermBorrowings_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Short-term Debt </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShortTermBorrowings_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Short-term borrowings </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ContractWithCustomerLiabilityCurrent" xlink:label="us-gaap_ContractWithCustomerLiabilityCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerLiabilityCurrent" xlink:to="us-gaap_ContractWithCustomerLiabilityCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractWithCustomerLiabilityCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Contract with Customer, Liability, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ContractWithCustomerLiabilityCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Deferred revenue </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherLiabilitiesCurrent" xlink:label="us-gaap_OtherLiabilitiesCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesCurrent" xlink:to="us-gaap_OtherLiabilitiesCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Liabilities, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherLiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other current liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_CurrentLiabilitiesBeforeClientFundObligations" xlink:label="payx_CurrentLiabilitiesBeforeClientFundObligations" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_CurrentLiabilitiesBeforeClientFundObligations" xlink:to="payx_CurrentLiabilitiesBeforeClientFundObligations_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_CurrentLiabilitiesBeforeClientFundObligations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Current liabilities before client fund obligations. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_CurrentLiabilitiesBeforeClientFundObligations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Current liabilities before client fund obligations </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="payx_CurrentLiabilitiesBeforeClientFundObligations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Current liabilities before client fund obligations </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ClientFundObligations" xlink:label="payx_ClientFundObligations" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ClientFundObligations" xlink:to="payx_ClientFundObligations_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ClientFundObligations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Client fund obligations. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ClientFundObligations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Client Fund Obligations </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_ClientFundObligations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Client fund obligations </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Liabilities, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total current liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccruedIncomeTaxesNoncurrent" xlink:label="us-gaap_AccruedIncomeTaxesNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedIncomeTaxesNoncurrent" xlink:to="us-gaap_AccruedIncomeTaxesNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedIncomeTaxesNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accrued Income Taxes, Noncurrent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccruedIncomeTaxesNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accrued income taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet" xlink:label="us-gaap_DeferredIncomeTaxLiabilitiesNet" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxLiabilitiesNet" xlink:to="us-gaap_DeferredIncomeTaxLiabilitiesNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Deferred Income Tax Liabilities, Net </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredIncomeTaxLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Deferred income taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="us-gaap_LongTermDebtNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtNoncurrent" xlink:to="us-gaap_LongTermDebtNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term Debt, Excluding Current Maturities </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term borrowings, net of debt issuance costs </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:to="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating lease liabilities, non-current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating lease liabilities </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Non-current portion </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="us-gaap_OtherLiabilitiesNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesNoncurrent" xlink:to="us-gaap_OtherLiabilitiesNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilitiesNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Liabilities, Noncurrent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherLiabilitiesNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other long-term liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Liabilities </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Commitments and Contingencies </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Commitments and contingencies - Note N </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stockholders' Equity Attributable to Parent [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stockholders' equity </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common Stock, Value, Issued </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 358.7 shares as of February 29, 2020 and 359.3 shares as of May 31, 2019 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Additional Paid in Capital, Common Stock </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Additional paid-in capital </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Retained Earnings (Accumulated Deficit) </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Retained earnings </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accumulated Other Comprehensive Income (Loss), Net of Tax </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Ending balance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Beginning balance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accumulated other comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stockholders' Equity Attributable to Parent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Ending balance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Beginning balance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total stockholders' equity </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Liabilities and Equity </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total liabilities and stockholders' equity </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common Stock, Par or Stated Value Per Share </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common stock, par value </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common Stock, Shares Authorized </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common stock, shares authorized </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common Stock, Shares, Issued </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common stock, shares issued </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common Stock, Shares, Outstanding </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Ending balance, Shares </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Beginning balance, Shares </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common stock, shares outstanding </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Consolidated Statements of Stockholders' Equity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Equity Components [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Equity Component [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Equity Component [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common Stock [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common Stock [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Additional Paid In Capital [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Additional Paid-in Capital [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="us-gaap_RetainedEarningsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Retained Earnings [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Retained Earnings [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accumulated Other Comprehensive Income [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accumulated Other Comprehensive Income/(Loss) [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Unrealized gains on securities, net of reclassification adjustment and tax </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DividendsCommonStockCash" xlink:label="us-gaap_DividendsCommonStockCash" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsCommonStockCash" xlink:to="us-gaap_DividendsCommonStockCash_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsCommonStockCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Dividends, Common Stock, Cash </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_DividendsCommonStockCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash dividends declared </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:to="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stock Repurchased and Retired During Period, Shares </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Repurchases of common shares, Shares </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common stock repurchased and retired, shares </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:to="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stock Repurchased and Retired During Period, Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Repurchases of common shares </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common stock repurchased and retired, values </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stock-based compensation costs </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Foreign currency translation adjustment </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross" xlink:to="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stock Issued During Period, Shares, Share-based Compensation, Gross </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common stock issued in connection with exercise or vesting of stock-based awards </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Activity related to equity-based plans, Shares </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_StockIssuedDuringPeriodValueShareBasedCompensation1" xlink:label="payx_StockIssuedDuringPeriodValueShareBasedCompensation1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_StockIssuedDuringPeriodValueShareBasedCompensation1" xlink:to="payx_StockIssuedDuringPeriodValueShareBasedCompensation1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_StockIssuedDuringPeriodValueShareBasedCompensation1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stock Issued During Period Value Share Based Compensation 1 </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_StockIssuedDuringPeriodValueShareBasedCompensation1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stock Issued During Period Value Share Based Compensation 1 </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_StockIssuedDuringPeriodValueShareBasedCompensation1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Activity related to equity-based plans </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockDividendsPerShareDeclared" xlink:to="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Common Stock, Dividends, Per Share, Declared </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash dividends per share </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Consolidated Statements of Cash Flows [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net Cash Provided by (Used in) Operating Activities [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating activities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Adjustments to reconcile net income to net cash provided by operating activities: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="us-gaap_DepreciationDepletionAndAmortization" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationDepletionAndAmortization" xlink:to="us-gaap_DepreciationDepletionAndAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Depreciation, Depletion and Amortization </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Depreciation and amortization on property and equipment and intangible assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments" xlink:label="us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments" xlink:to="us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accretion (Amortization) of Discounts and Premiums, Investments </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amortization of premiums and discounts on available-for-sale securities, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CapitalizedContractCostAmortization" xlink:label="us-gaap_CapitalizedContractCostAmortization" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedContractCostAmortization" xlink:to="us-gaap_CapitalizedContractCostAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizedContractCostAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost, Amortization </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalizedContractCostAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amortization </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CapitalizedContractCostAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amortization of deferred contract costs </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Share-based Compensation </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stock-based compensation costs </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Deferred Income Tax Expense (Benefit) </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> (Benefit)/provision for deferred income taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="us-gaap_ProvisionForDoubtfulAccounts" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProvisionForDoubtfulAccounts" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Provision for Doubtful Accounts </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Provision for allowance for doubtful accounts </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments" xlink:label="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments" xlink:to="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net realized (gains)/losses on sales of available-for-sale securities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Increase (Decrease) in Operating Capital [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Changes in operating assets and liabilities: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:label="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:to="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Increase (Decrease) in Accrued Interest Receivable, Net </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Interest receivable </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Increase (Decrease) in Accounts Receivable </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounts receivable and PEO unbilled receivables, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Increase (Decrease) in Prepaid Expense and Other Assets </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Prepaid expenses and other current assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Increase (Decrease) in Accounts Payable and Accrued Liabilities </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounts payable and other current liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredCharges" xlink:label="us-gaap_IncreaseDecreaseInDeferredCharges" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDeferredCharges" xlink:to="us-gaap_IncreaseDecreaseInDeferredCharges_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDeferredCharges_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Increase (Decrease) in Deferred Charges </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInDeferredCharges_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Deferred costs </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet" xlink:label="us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet" xlink:to="us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Increase (Decrease) in Other Noncurrent Assets and Liabilities, Net </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net change in other long-term assets and liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet" xlink:label="payx_IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet" xlink:to="payx_IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Increase Decrease In Operating Lease Right Of Use Assets and Liabilities, Net </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Increase Decrease In Operating Lease Right Of Use Assets and Liabilities, Net </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="payx_IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net change in operating lease right-of-use assets and liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net Cash Provided by (Used in) Operating Activities, Continuing Operations </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net cash provided by operating activities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net Cash Provided by (Used in) Investing Activities [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Investing activities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:to="us-gaap_PaymentsToAcquireAvailableForSaleSecurities_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Payments to Acquire Available-for-sale Securities </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Purchases of available-for-sale securities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:to="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Proceeds from Sale and Maturity of Available-for-sale Securities </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Proceeds from sales and maturities of available-for-sale securities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Payments to Acquire Property, Plant, and Equipment </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Purchases of property and equipment </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:to="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Payments to Acquire Businesses, Net of Cash Acquired </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Acquisition of businesses, net of cash acquired </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquireOtherProductiveAssets" xlink:label="us-gaap_PaymentsToAcquireOtherProductiveAssets" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireOtherProductiveAssets" xlink:to="us-gaap_PaymentsToAcquireOtherProductiveAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireOtherProductiveAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Payments to Acquire Other Productive Assets </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireOtherProductiveAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Purchases of other assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net Cash Provided by (Used in) Investing Activities, Continuing Operations </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net cash provided by/(used in) investing activities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net Cash Provided by (Used in) Financing Activities [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Financing activities </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_NetChangeInClientFundObligations" xlink:label="payx_NetChangeInClientFundObligations" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_NetChangeInClientFundObligations" xlink:to="payx_NetChangeInClientFundObligations_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_NetChangeInClientFundObligations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net change in client fund obligations. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_NetChangeInClientFundObligations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net Change In Client Fund Obligations </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_NetChangeInClientFundObligations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net change in client fund obligations </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromShortTermDebt" xlink:label="us-gaap_ProceedsFromShortTermDebt" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromShortTermDebt" xlink:to="us-gaap_ProceedsFromShortTermDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromShortTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Proceeds from Short-term Debt </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromShortTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net proceeds from short-term borrowings </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ProceedsFromBorrowingsToFundAcquisition" xlink:label="payx_ProceedsFromBorrowingsToFundAcquisition" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ProceedsFromBorrowingsToFundAcquisition" xlink:to="payx_ProceedsFromBorrowingsToFundAcquisition_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ProceedsFromBorrowingsToFundAcquisition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Proceeds From Borrowings To Fund Acquisition </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ProceedsFromBorrowingsToFundAcquisition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Proceeds From Borrowings To Fund Acquisition </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_ProceedsFromBorrowingsToFundAcquisition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Proceeds from borrowings to fund acquisition </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="us-gaap_PaymentsOfDividendsCommonStock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividendsCommonStock" xlink:to="us-gaap_PaymentsOfDividendsCommonStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Payments of Ordinary Dividends, Common Stock </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Dividends paid </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Payments for Repurchase of Common Stock </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Repurchases of common shares </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_EquityActivityRelatedToStockBasedAwards" xlink:label="payx_EquityActivityRelatedToStockBasedAwards" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_EquityActivityRelatedToStockBasedAwards" xlink:to="payx_EquityActivityRelatedToStockBasedAwards_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_EquityActivityRelatedToStockBasedAwards_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Equity activity related to stock-based awards. Includes proceeds from stock option exercises and cash usage related to stock withheld to cover taxes on lapsing of stock-based awards. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_EquityActivityRelatedToStockBasedAwards_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Equity activity related to stock-based awards </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_EquityActivityRelatedToStockBasedAwards_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Activity related to equity-based plans </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net Cash Provided by (Used in) Financing Activities, Continuing Operations </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net cash (used in)/provided by financing activities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net change in cash, cash equivalents, restricted cash and restricted cash equivalents </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents to the Consolidated Balance Sheets: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RestrictedCash" xlink:label="us-gaap_RestrictedCash" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCash" xlink:to="us-gaap_RestrictedCash_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Restricted Cash </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Restricted cash </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_RestrictedCashAndRestrictedCashEquivalentsIncludedInFundsHeldForClients" xlink:label="payx_RestrictedCashAndRestrictedCashEquivalentsIncludedInFundsHeldForClients" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_RestrictedCashAndRestrictedCashEquivalentsIncludedInFundsHeldForClients" xlink:to="payx_RestrictedCashAndRestrictedCashEquivalentsIncludedInFundsHeldForClients_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_RestrictedCashAndRestrictedCashEquivalentsIncludedInFundsHeldForClients_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amount of restricted cash and restricted cash equivalents included in funds held for clients. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_RestrictedCashAndRestrictedCashEquivalentsIncludedInFundsHeldForClients_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Restricted Cash And Restricted Cash Equivalents Included In Funds Held For Clients </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_RestrictedCashAndRestrictedCashEquivalentsIncludedInFundsHeldForClients_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Restricted cash and restricted cash equivalents included in funds held for clients </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Description of Business, Basis of Presentation, and Significant Accounting Policies [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock" xlink:label="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock" xlink:to="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Description of Business, Basis of Presentation, and Significant Accounting Policies </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenueFromContractWithCustomerAbstract" xlink:label="us-gaap_RevenueFromContractWithCustomerAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromContractWithCustomerAbstract" xlink:to="us-gaap_RevenueFromContractWithCustomerAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromContractWithCustomerAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Service Revenue [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenueFromContractWithCustomerTextBlock" xlink:label="us-gaap_RevenueFromContractWithCustomerTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromContractWithCustomerTextBlock" xlink:to="us-gaap_RevenueFromContractWithCustomerTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromContractWithCustomerTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue from Contract with Customer [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenueFromContractWithCustomerTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Service Revenue </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="us-gaap_EarningsPerShareAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Basic and Diluted Earnings Per Share [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="us-gaap_EarningsPerShareTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareTextBlock" xlink:to="us-gaap_EarningsPerShareTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Earnings Per Share [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Basic and Diluted Earnings Per Share </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="us-gaap_BusinessCombinationsAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationsAbstract" xlink:to="us-gaap_BusinessCombinationsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combinations [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationDisclosureTextBlock" xlink:label="us-gaap_BusinessCombinationDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationDisclosureTextBlock" xlink:to="us-gaap_BusinessCombinationDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination Disclosure [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combinations </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherIncomeAndExpensesAbstract" xlink:label="us-gaap_OtherIncomeAndExpensesAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherIncomeAndExpensesAbstract" xlink:to="us-gaap_OtherIncomeAndExpensesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherIncomeAndExpensesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other (Expense)/Income, Net [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherNonoperatingIncomeAndExpenseTextBlock" xlink:label="us-gaap_OtherNonoperatingIncomeAndExpenseTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncomeAndExpenseTextBlock" xlink:to="us-gaap_OtherNonoperatingIncomeAndExpenseTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNonoperatingIncomeAndExpenseTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Nonoperating Income and Expense [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherNonoperatingIncomeAndExpenseTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other (Expense)/Income, Net </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_FundsHeldForClientsAndCorporateInvestmentsAbstract" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_FundsHeldForClientsAndCorporateInvestmentsAbstract" xlink:to="payx_FundsHeldForClientsAndCorporateInvestmentsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds held for clients and corporate investments. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held for Clients and Corporate Investments [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_FundsHeldForClientsAndCorporateInvestmentsDisclosureTextBlock" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_FundsHeldForClientsAndCorporateInvestmentsDisclosureTextBlock" xlink:to="payx_FundsHeldForClientsAndCorporateInvestmentsDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds held for clients and corporate investments. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held for Clients and Corporate Investments Disclosure [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held for Clients and Corporate Investments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="us-gaap_FairValueDisclosuresAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresAbstract" xlink:to="us-gaap_FairValueDisclosuresAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueDisclosuresAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Measurements [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="us-gaap_FairValueDisclosuresTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Disclosures [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Measurements </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LeasesAbstract" xlink:label="us-gaap_LeasesAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasesAbstract" xlink:to="us-gaap_LeasesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeasesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Leases [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeasesTextBlock" xlink:label="us-gaap_LesseeOperatingLeasesTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeasesTextBlock" xlink:to="us-gaap_LesseeOperatingLeasesTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeasesTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Leases [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeasesTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Leases </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property and Equipment, Net of Accumulated Depreciation [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property, Plant and Equipment Disclosure [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property and Equipment, Net of Accumulated Depreciation </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:to="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill and Intangible Assets, Net of Accumulated Amortization [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:to="us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill and Intangible Assets Disclosure [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill and Intangible Assets, Net of Accumulated Amortization </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="us-gaap_StockholdersEquityNoteAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteAbstract" xlink:to="us-gaap_StockholdersEquityNoteAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accumulated Other Comprehensive Income/(Loss) [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ComprehensiveIncomeNoteTextBlock" xlink:label="us-gaap_ComprehensiveIncomeNoteTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNoteTextBlock" xlink:to="us-gaap_ComprehensiveIncomeNoteTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeNoteTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Comprehensive Income (Loss) Note [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ComprehensiveIncomeNoteTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accumulated Other Comprehensive Income/(Loss) </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="us-gaap_DebtDisclosureAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureAbstract" xlink:to="us-gaap_DebtDisclosureAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Financing [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShortTermDebtTextBlock" xlink:label="us-gaap_ShortTermDebtTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermDebtTextBlock" xlink:to="us-gaap_ShortTermDebtTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShortTermDebtTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Short-term Debt [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShortTermDebtTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Short-term Financing </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtTextBlock" xlink:label="us-gaap_LongTermDebtTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtTextBlock" xlink:to="us-gaap_LongTermDebtTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term Debt [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-Term Financing </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Commitments and Contingencies [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Commitments and Contingencies Disclosure [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Commitments and Contingencies </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="us-gaap_IncomeTaxDisclosureAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureAbstract" xlink:to="us-gaap_IncomeTaxDisclosureAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Income Taxes [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Income Tax Disclosure [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Income Taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NatureOfOperations" xlink:label="us-gaap_NatureOfOperations" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NatureOfOperations" xlink:to="us-gaap_NatureOfOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NatureOfOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Nature of Operations [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NatureOfOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Description of Business </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Basis of Accounting, Policy [Policy Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Basis of Presentation </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Restricted Cash and Restricted Cash Equivalents </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ReceivablesPolicyTextBlock" xlink:label="us-gaap_ReceivablesPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesPolicyTextBlock" xlink:to="us-gaap_ReceivablesPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReceivablesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Receivables, Policy [Policy Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ReceivablesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounts Receivable, Net of Allowance for Doubtful Accounts </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TradeAndOtherAccountsReceivableUnbilledReceivablesPolicy" xlink:label="us-gaap_TradeAndOtherAccountsReceivableUnbilledReceivablesPolicy" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TradeAndOtherAccountsReceivableUnbilledReceivablesPolicy" xlink:to="us-gaap_TradeAndOtherAccountsReceivableUnbilledReceivablesPolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TradeAndOtherAccountsReceivableUnbilledReceivablesPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Trade and Other Accounts Receivable, Unbilled Receivables, Policy [Policy Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TradeAndOtherAccountsReceivableUnbilledReceivablesPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Professional Employer Organization ("PEO") Unbilled Receivables, Net of Advance Collections </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LiabilityReserveEstimatePolicy" xlink:label="us-gaap_LiabilityReserveEstimatePolicy" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilityReserveEstimatePolicy" xlink:to="us-gaap_LiabilityReserveEstimatePolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilityReserveEstimatePolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Liability Reserve Estimate, Policy [Policy Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilityReserveEstimatePolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> PEO Insurance Reserves </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeLeasesPolicyTextBlock" xlink:label="us-gaap_LesseeLeasesPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeLeasesPolicyTextBlock" xlink:to="us-gaap_LesseeLeasesPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeLeasesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Leases [Policy Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeLeasesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Leases </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stock-Based Compensation Costs </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> New Accounting Pronouncements, Policy [Policy Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Recently Adopted and Issued Accounting Pronouncements </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:label="us-gaap_DisaggregationOfRevenueTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:to="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Disaggregation of Revenue [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Summary of Disaggregates Revenue by Services </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:label="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:to="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Contract with Customer, Asset and Liability [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Summary of Changes in Deferred Revenue Related to Material Right Performance Obligations </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CapitalizedContractCostTableTextBlock" xlink:label="us-gaap_CapitalizedContractCostTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedContractCostTableTextBlock" xlink:to="us-gaap_CapitalizedContractCostTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizedContractCostTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalizedContractCostTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Summary of Changes in Deferred Costs to Obtain and Fulfill Contracts </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Basic and Diluted Earnings Per Share </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:label="us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:to="us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Acquisition Date Fair Values to Acquired Net Assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:label="us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:to="us-gaap_BusinessAcquisitionProFormaInformationTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionProFormaInformationTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Acquisition, Pro Forma Information [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionProFormaInformationTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Summary of Pro Forma Information </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock" xlink:label="us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock" xlink:to="us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Other Nonoperating Income (Expense) [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Interest (Expense)/Income, Net </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ComponentsOfFundsHeldForClientsAndCorporateInvestmentsTableTextBlock" xlink:label="payx_ComponentsOfFundsHeldForClientsAndCorporateInvestmentsTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ComponentsOfFundsHeldForClientsAndCorporateInvestmentsTableTextBlock" xlink:to="payx_ComponentsOfFundsHeldForClientsAndCorporateInvestmentsTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ComponentsOfFundsHeldForClientsAndCorporateInvestmentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Tabular disclosure of components of funds held for clients and corporate investments. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ComponentsOfFundsHeldForClientsAndCorporateInvestmentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Components Of Funds Held For Clients And Corporate Investments [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_ComponentsOfFundsHeldForClientsAndCorporateInvestmentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held for Clients and Corporate Investments </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ClassificationOfInvestmentsOnConsolidatedBalanceSheetsTableTextBlock" xlink:label="payx_ClassificationOfInvestmentsOnConsolidatedBalanceSheetsTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ClassificationOfInvestmentsOnConsolidatedBalanceSheetsTableTextBlock" xlink:to="payx_ClassificationOfInvestmentsOnConsolidatedBalanceSheetsTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ClassificationOfInvestmentsOnConsolidatedBalanceSheetsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Tabular disclosure of classification of investments on consolidated balance sheets. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ClassificationOfInvestmentsOnConsolidatedBalanceSheetsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Classification Of Investments On Consolidated Balance Sheets [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_ClassificationOfInvestmentsOnConsolidatedBalanceSheetsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Classification of Investments on Consolidated Balance Sheets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock" xlink:label="us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock" xlink:to="us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Unrealized Loss on Investments [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Securities in Unrealized Loss Position </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealizedGainLossOnInvestmentsTableTextBlock" xlink:label="us-gaap_RealizedGainLossOnInvestmentsTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealizedGainLossOnInvestmentsTableTextBlock" xlink:to="us-gaap_RealizedGainLossOnInvestmentsTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealizedGainLossOnInvestmentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Realized Gain (Loss) on Investments [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealizedGainLossOnInvestmentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Realized Gains and Losses from Sale of Available-for-sale Securities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock" xlink:label="us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock" xlink:to="us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Investments Classified by Contractual Maturity Date [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:to="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Financial Assets and Liabilities Measured at Fair Value on Recurring Basis </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_FairValueLiabilitiesMeasuredOnNonrecurringBasisTableTextBlock" xlink:label="payx_FairValueLiabilitiesMeasuredOnNonrecurringBasisTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_FairValueLiabilitiesMeasuredOnNonrecurringBasisTableTextBlock" xlink:to="payx_FairValueLiabilitiesMeasuredOnNonrecurringBasisTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_FairValueLiabilitiesMeasuredOnNonrecurringBasisTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Liabilities Measured On Nonrecurring Basis [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_FairValueLiabilitiesMeasuredOnNonrecurringBasisTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Liabilities Measured On Nonrecurring Basis [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_FairValueLiabilitiesMeasuredOnNonrecurringBasisTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Financial Liabilities Measured at Fair Value on Non-Recurring Basis </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_SupplementalBalanceSheetRelatedToLeasesTableTextBlock" xlink:label="payx_SupplementalBalanceSheetRelatedToLeasesTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_SupplementalBalanceSheetRelatedToLeasesTableTextBlock" xlink:to="payx_SupplementalBalanceSheetRelatedToLeasesTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_SupplementalBalanceSheetRelatedToLeasesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Supplemental Balance Sheet Information Related To Leases [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_SupplementalBalanceSheetRelatedToLeasesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Supplemental Balance Sheet Related To Leases [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_SupplementalBalanceSheetRelatedToLeasesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Supplemental Balance Sheet Information Related to Leases </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LeaseCostTableTextBlock" xlink:label="us-gaap_LeaseCostTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseCostTableTextBlock" xlink:to="us-gaap_LeaseCostTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseCostTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lease, Cost [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeaseCostTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Components of Lease Expense </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_SupplementalCashFlowInformationRelatedToLeasesTableTextBlock" xlink:label="payx_SupplementalCashFlowInformationRelatedToLeasesTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_SupplementalCashFlowInformationRelatedToLeasesTableTextBlock" xlink:to="payx_SupplementalCashFlowInformationRelatedToLeasesTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_SupplementalCashFlowInformationRelatedToLeasesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Supplemental Cash Flow Information Related To Leases [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_SupplementalCashFlowInformationRelatedToLeasesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Supplemental Cash Flow Information Related To Leases [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_SupplementalCashFlowInformationRelatedToLeasesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Supplemental Cash Flow Information Related to Leases </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Lease, Liability, Maturity [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Future Lease Payments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property, Plant and Equipment [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Components of Property and Equipment, at Cost </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfGoodwillTextBlock" xlink:label="us-gaap_ScheduleOfGoodwillTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfGoodwillTextBlock" xlink:to="us-gaap_ScheduleOfGoodwillTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfGoodwillTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Goodwill [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfGoodwillTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Change in Goodwill </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:to="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Finite-Lived Intangible Assets [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Components of Intangible Assets, at Cost </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:label="us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:to="us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Estimated Amortization Expense </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:label="us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock" xlink:to="us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Changes in Accumulated Other Comprehensive Income/(Loss) </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LineOfCreditFacilityTable" xlink:label="us-gaap_LineOfCreditFacilityTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityTable" xlink:to="us-gaap_LineOfCreditFacilityTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility [Table] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="us-gaap_DebtInstrumentAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentAxis" xlink:to="us-gaap_DebtInstrumentAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="us-gaap_DebtInstrumentNameDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentNameDomain" xlink:to="us-gaap_DebtInstrumentNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument Name [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument, Name [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_JpmOneBillionCreditFacilityMember" xlink:label="payx_JpmOneBillionCreditFacilityMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_JpmOneBillionCreditFacilityMember" xlink:to="payx_JpmOneBillionCreditFacilityMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_JpmOneBillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> JPM One Billion Credit Facility [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_JpmOneBillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Jpm One Billion Credit Facility [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_JpmOneBillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> JPM $1 Billion Credit Facility [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_JpmFiveHundredMillionCreditFacilityMember" xlink:label="payx_JpmFiveHundredMillionCreditFacilityMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_JpmFiveHundredMillionCreditFacilityMember" xlink:to="payx_JpmFiveHundredMillionCreditFacilityMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_JpmFiveHundredMillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> JPM Five Hundred Million Credit Facility [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_JpmFiveHundredMillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Jpm Five Hundred Million Credit Facility [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_JpmFiveHundredMillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> JPM $500 Million Credit Facility [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LineOfCreditFacilityAxis" xlink:label="us-gaap_LineOfCreditFacilityAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAxis" xlink:to="us-gaap_LineOfCreditFacilityAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lender Name [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityLenderDomain" xlink:to="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line Of Credit Facility Lender [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility, Lender [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_JpMorganChaseBankNaMember" xlink:label="payx_JpMorganChaseBankNaMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_JpMorganChaseBankNaMember" xlink:to="payx_JpMorganChaseBankNaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_JpMorganChaseBankNaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> JP Morgan Chase Bank, NA [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_JpMorganChaseBankNaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Jp Morgan Chase Bank Na [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_JpMorganChaseBankNaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> JP Morgan Chase Bank, N.A. [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_PncBankNationalAssociationMember" xlink:label="payx_PncBankNationalAssociationMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_PncBankNationalAssociationMember" xlink:to="payx_PncBankNationalAssociationMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_PncBankNationalAssociationMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> PNC Bank, National Association [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_PncBankNationalAssociationMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Pnc Bank National Association [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_PncBankNationalAssociationMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> PNC Bank, National Association [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CreditFacilityAxis" xlink:label="us-gaap_CreditFacilityAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditFacilityAxis" xlink:to="us-gaap_CreditFacilityAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CreditFacilityAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Credit Facility [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CreditFacilityDomain" xlink:label="us-gaap_CreditFacilityDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditFacilityDomain" xlink:to="us-gaap_CreditFacilityDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CreditFacilityDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Credit Facility [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CreditFacilityDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Credit Facility [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevolvingCreditFacilityMember" xlink:label="us-gaap_RevolvingCreditFacilityMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevolvingCreditFacilityMember" xlink:to="us-gaap_RevolvingCreditFacilityMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevolvingCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revolving Credit Facility [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevolvingCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revolving Credit Facility [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LineOfCreditFacilityLineItems" xlink:label="us-gaap_LineOfCreditFacilityLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityLineItems" xlink:to="us-gaap_LineOfCreditFacilityLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility [Line Items] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility [Line Items] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Financing [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock" xlink:label="us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock" xlink:to="us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Line of Credit Facilities [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Description of Credit Facilities </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ScheduleOfLineOfCreditFacilitiesBorrowedTextBlock" xlink:label="payx_ScheduleOfLineOfCreditFacilitiesBorrowedTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ScheduleOfLineOfCreditFacilitiesBorrowedTextBlock" xlink:to="payx_ScheduleOfLineOfCreditFacilitiesBorrowedTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ScheduleOfLineOfCreditFacilitiesBorrowedTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule Of Line Of Credit Facilities Borrowed [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ScheduleOfLineOfCreditFacilitiesBorrowedTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule Of Line Of Credit Facilities Borrowed [Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_ScheduleOfLineOfCreditFacilitiesBorrowedTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Credit Facility Amount Borrowed </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:to="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Long-term Debt Instruments [Table Text Block] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule Of Long-Term Debt </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AccountingPoliciesTable" xlink:label="payx_AccountingPoliciesTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AccountingPoliciesTable" xlink:to="payx_AccountingPoliciesTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AccountingPoliciesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounting Policies [Table] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AccountingPoliciesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounting Policies [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_StatementGeographicalAxis" xlink:label="srt_StatementGeographicalAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_StatementGeographicalAxis" xlink:to="srt_StatementGeographicalAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_StatementGeographicalAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Geographical [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_SegmentGeographicalDomain" xlink:label="srt_SegmentGeographicalDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_SegmentGeographicalDomain" xlink:to="srt_SegmentGeographicalDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_SegmentGeographicalDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Segment Geographical [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_SegmentGeographicalDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Geographical [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_EuropeMember" xlink:label="srt_EuropeMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_EuropeMember" xlink:to="srt_EuropeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_EuropeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Europe [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_EuropeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Europe [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="us-gaap_BusinessAcquisitionAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAxis" xlink:to="us-gaap_BusinessAcquisitionAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Acquisition [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAcquireeDomain" xlink:to="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Acquisition Acquiree [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Acquisition, Acquiree [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_OasisOutsourcingGroupHoldingsL.p.Member" xlink:label="payx_OasisOutsourcingGroupHoldingsL.p.Member" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_OasisOutsourcingGroupHoldingsL.p.Member" xlink:to="payx_OasisOutsourcingGroupHoldingsL.p.Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_OasisOutsourcingGroupHoldingsL.p.Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Oasis Outsourcing Group Holdings L.P. [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_OasisOutsourcingGroupHoldingsL.p.Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Oasis Outsourcing Group Holdings L.p. [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_OasisOutsourcingGroupHoldingsL.p.Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Oasis Outsourcing Group Holdings, L.P. [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Concentration Risk Benchmark [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="us-gaap_ConcentrationRiskBenchmarkDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskBenchmarkDomain" xlink:to="us-gaap_ConcentrationRiskBenchmarkDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskBenchmarkDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Concentration Risk Benchmark [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConcentrationRiskBenchmarkDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Concentration Risk Benchmark [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesRevenueNetMember" xlink:label="us-gaap_SalesRevenueNetMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNetMember" xlink:to="us-gaap_SalesRevenueNetMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SalesRevenueNetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Sales Revenue Net [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SalesRevenueNetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_LongLivedAssetsMember" xlink:label="payx_LongLivedAssetsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_LongLivedAssetsMember" xlink:to="payx_LongLivedAssetsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_LongLivedAssetsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long Lived Assets [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_LongLivedAssetsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long Lived Assets [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_LongLivedAssetsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long Lived Assets [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ConcentrationRiskByTypeAxis" xlink:label="us-gaap_ConcentrationRiskByTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByTypeAxis" xlink:to="us-gaap_ConcentrationRiskByTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskByTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Concentration Risk Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ConcentrationRiskTypeDomain" xlink:label="us-gaap_ConcentrationRiskTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskTypeDomain" xlink:to="us-gaap_ConcentrationRiskTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Concentration Risk Type [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConcentrationRiskTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Concentration Risk Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GeographicConcentrationRiskMember" xlink:label="us-gaap_GeographicConcentrationRiskMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeographicConcentrationRiskMember" xlink:to="us-gaap_GeographicConcentrationRiskMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GeographicConcentrationRiskMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Geographic Concentration Risk [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GeographicConcentrationRiskMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Geographic Concentration Risk [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_RangeAxis" xlink:label="srt_RangeAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeAxis" xlink:to="srt_RangeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Statistical Measurement [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_RangeMember" xlink:label="srt_RangeMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeMember" xlink:to="srt_RangeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Range [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_RangeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Range [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MinimumMember" xlink:label="srt_MinimumMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MinimumMember" xlink:to="srt_MinimumMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MinimumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Minimum [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MinimumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Minimum [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MaximumMember" xlink:label="srt_MaximumMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MaximumMember" xlink:to="srt_MaximumMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MaximumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Maximum [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MaximumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Maximum [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Receivable Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="us-gaap_ReceivableTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivableTypeDomain" xlink:to="us-gaap_ReceivableTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReceivableTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Receivable Type [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ReceivableTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Receivable [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TradeAccountsReceivableMember" xlink:label="us-gaap_TradeAccountsReceivableMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TradeAccountsReceivableMember" xlink:to="us-gaap_TradeAccountsReceivableMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TradeAccountsReceivableMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Trade Accounts Receivable [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TradeAccountsReceivableMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Trade Receivables [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinanceReceivablesMember" xlink:label="us-gaap_FinanceReceivablesMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinanceReceivablesMember" xlink:to="us-gaap_FinanceReceivablesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinanceReceivablesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finance Receivables [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinanceReceivablesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Purchased Receivables [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xlink:label="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xlink:to="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Adjustments for New Accounting Pronouncements [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TypeOfAdoptionMember" xlink:label="us-gaap_TypeOfAdoptionMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TypeOfAdoptionMember" xlink:to="us-gaap_TypeOfAdoptionMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TypeOfAdoptionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Type Of Adoption [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TypeOfAdoptionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Type of Adoption [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccountingStandardsUpdate201602Member" xlink:label="us-gaap_AccountingStandardsUpdate201602Member" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingStandardsUpdate201602Member" xlink:to="us-gaap_AccountingStandardsUpdate201602Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingStandardsUpdate201602Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounting Standards Update201602 [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountingStandardsUpdate201602Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> ASU 2016-02 [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_StatementScenarioAxis" xlink:label="srt_StatementScenarioAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_StatementScenarioAxis" xlink:to="srt_StatementScenarioAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_StatementScenarioAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Scenario [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="srt_ScenarioUnspecifiedDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScenarioUnspecifiedDomain" xlink:to="srt_ScenarioUnspecifiedDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Scenario Unspecified [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Scenario, Unspecified [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_ScenarioForecastMember" xlink:label="srt_ScenarioForecastMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScenarioForecastMember" xlink:to="srt_ScenarioForecastMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScenarioForecastMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Scenario Forecast [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ScenarioForecastMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Forecast [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AccountingPoliciesLineItems" xlink:label="payx_AccountingPoliciesLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AccountingPoliciesLineItems" xlink:to="payx_AccountingPoliciesLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AccountingPoliciesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounting Policies [Line Items] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AccountingPoliciesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounting Policies [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NumberOfReportableSegments" xlink:label="us-gaap_NumberOfReportableSegments" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfReportableSegments" xlink:to="us-gaap_NumberOfReportableSegments_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfReportableSegments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Number of Reportable Segments </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NumberOfReportableSegments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Number of reportable segments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="us-gaap_ConcentrationRiskPercentage1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskPercentage1" xlink:to="us-gaap_ConcentrationRiskPercentage1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Concentration Risk, Percentage </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total percentage </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Allowance for Doubtful Accounts Receivable, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Allowance for doubtful accounts </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AccountsNotesAndLoansReceivableGrossCurrent" xlink:label="payx_AccountsNotesAndLoansReceivableGrossCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AccountsNotesAndLoansReceivableGrossCurrent" xlink:to="payx_AccountsNotesAndLoansReceivableGrossCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AccountsNotesAndLoansReceivableGrossCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounts Notes And Loans Receivable Gross Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AccountsNotesAndLoansReceivableGrossCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounts Notes And Loans Receivable Gross Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_AccountsNotesAndLoansReceivableGrossCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Receivables </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AdvanceCollectionsCurrent" xlink:label="payx_AdvanceCollectionsCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AdvanceCollectionsCurrent" xlink:to="payx_AdvanceCollectionsCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AdvanceCollectionsCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Advance Collections Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AdvanceCollectionsCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Advance Collections Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_AdvanceCollectionsCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Advance collections </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetUsefulLife" xlink:label="us-gaap_FiniteLivedIntangibleAssetUsefulLife" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetUsefulLife" xlink:to="us-gaap_FiniteLivedIntangibleAssetUsefulLife_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetUsefulLife_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finite-Lived Intangible Asset, Useful Life </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetUsefulLife_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amortization period </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_MaximumIndividualClaimsLiabilityWorkersCompensationInsurance" xlink:label="payx_MaximumIndividualClaimsLiabilityWorkersCompensationInsurance" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_MaximumIndividualClaimsLiabilityWorkersCompensationInsurance" xlink:to="payx_MaximumIndividualClaimsLiabilityWorkersCompensationInsurance_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_MaximumIndividualClaimsLiabilityWorkersCompensationInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Maximum individual claims liability workers compensation insurance. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_MaximumIndividualClaimsLiabilityWorkersCompensationInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Maximum Individual Claims Liability Workers Compensation Insurance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_MaximumIndividualClaimsLiabilityWorkersCompensationInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Maximum individual workers' compensation claims liability </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_MaximumIndividualClaimsLiabilityHealthInsurance" xlink:label="payx_MaximumIndividualClaimsLiabilityHealthInsurance" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_MaximumIndividualClaimsLiabilityHealthInsurance" xlink:to="payx_MaximumIndividualClaimsLiabilityHealthInsurance_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_MaximumIndividualClaimsLiabilityHealthInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Maximum Individual Claims Liability Health Insurance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_MaximumIndividualClaimsLiabilityHealthInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Maximum Individual Claims Liability Health Insurance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_MaximumIndividualClaimsLiabilityHealthInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Maximum individual health insurance claims liability </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseImpairmentLoss" xlink:label="us-gaap_OperatingLeaseImpairmentLoss" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseImpairmentLoss" xlink:to="us-gaap_OperatingLeaseImpairmentLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseImpairmentLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Lease, Impairment Loss </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseImpairmentLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating lease, impairment loss </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Allocated Share-based Compensation Expense </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stock-based compensation costs recognized </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification" xlink:to="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Increase in lease-related assets and liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="us-gaap_OperatingLeaseLiability" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiability" xlink:to="us-gaap_OperatingLeaseLiability_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseLiability_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating lease, liability </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeaseLiability_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total operating lease liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_UnamortizedLandlordAllowancesAndLeaseIncentives" xlink:label="payx_UnamortizedLandlordAllowancesAndLeaseIncentives" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_UnamortizedLandlordAllowancesAndLeaseIncentives" xlink:to="payx_UnamortizedLandlordAllowancesAndLeaseIncentives_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_UnamortizedLandlordAllowancesAndLeaseIncentives_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Unamortized Landlord Allowances And Lease Incentives </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_UnamortizedLandlordAllowancesAndLeaseIncentives_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Unamortized Landlord Allowances And Lease Incentives </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_UnamortizedLandlordAllowancesAndLeaseIncentives_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Unamortized landlord allowances and lease incentives </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ServiceRevenueTable" xlink:label="payx_ServiceRevenueTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ServiceRevenueTable" xlink:to="payx_ServiceRevenueTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ServiceRevenueTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Service Revenue [Table] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ServiceRevenueTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Service Revenue [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ServiceRevenueLineItems" xlink:label="payx_ServiceRevenueLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ServiceRevenueLineItems" xlink:to="payx_ServiceRevenueLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ServiceRevenueLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Service Revenue [Line Items] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ServiceRevenueLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Service Revenue [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ServiceRevenueContractsTerm" xlink:label="payx_ServiceRevenueContractsTerm" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ServiceRevenueContractsTerm" xlink:to="payx_ServiceRevenueContractsTerm_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ServiceRevenueContractsTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Service Revenue Contracts Term </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ServiceRevenueContractsTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Service Revenue Contracts Term </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_ServiceRevenueContractsTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Contracts term </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_CustomerContractTerminationNoticeDays" xlink:label="payx_CustomerContractTerminationNoticeDays" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_CustomerContractTerminationNoticeDays" xlink:to="payx_CustomerContractTerminationNoticeDays_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_CustomerContractTerminationNoticeDays_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Customer Contract Termination Notice Days </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_CustomerContractTerminationNoticeDays_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Customer Contract Termination Notice Days </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_CustomerContractTerminationNoticeDays_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Notice of termination period </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_DirectPassThroughCostPayrollWagesAndTaxesIncludingFederalAndStateUnemploymentInsurance" xlink:label="payx_DirectPassThroughCostPayrollWagesAndTaxesIncludingFederalAndStateUnemploymentInsurance" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_DirectPassThroughCostPayrollWagesAndTaxesIncludingFederalAndStateUnemploymentInsurance" xlink:to="payx_DirectPassThroughCostPayrollWagesAndTaxesIncludingFederalAndStateUnemploymentInsurance_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_DirectPassThroughCostPayrollWagesAndTaxesIncludingFederalAndStateUnemploymentInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Direct Pass Through Cost Payroll Wages And Taxes Including Federal And State Unemployment Insurance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_DirectPassThroughCostPayrollWagesAndTaxesIncludingFederalAndStateUnemploymentInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Direct Pass Through Cost Payroll Wages And Taxes Including Federal And State Unemployment Insurance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_DirectPassThroughCostPayrollWagesAndTaxesIncludingFederalAndStateUnemploymentInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Direct pass-through costs for payroll wages and payroll taxes </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_DirectPassThroughCostStateUnemploymentInsurance" xlink:label="payx_DirectPassThroughCostStateUnemploymentInsurance" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_DirectPassThroughCostStateUnemploymentInsurance" xlink:to="payx_DirectPassThroughCostStateUnemploymentInsurance_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_DirectPassThroughCostStateUnemploymentInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Direct Pass Through Cost State Unemployment Insurance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_DirectPassThroughCostStateUnemploymentInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Direct Pass Through Cost State Unemployment Insurance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_DirectPassThroughCostStateUnemploymentInsurance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Direct pass-through costs related to state unemployment insurance </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_DirectPassThroughCostGuaranteedCostBenefitPlans" xlink:label="payx_DirectPassThroughCostGuaranteedCostBenefitPlans" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_DirectPassThroughCostGuaranteedCostBenefitPlans" xlink:to="payx_DirectPassThroughCostGuaranteedCostBenefitPlans_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_DirectPassThroughCostGuaranteedCostBenefitPlans_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Direct Pass Through Cost Guaranteed Cost Benefit Plans </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_DirectPassThroughCostGuaranteedCostBenefitPlans_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Direct Pass Through Cost Guaranteed Cost Benefit Plans </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_DirectPassThroughCostGuaranteedCostBenefitPlans_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Direct pass-through costs related to guaranteed cost benefit plans </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenuePerformanceObligationDescriptionOfTiming" xlink:label="us-gaap_RevenuePerformanceObligationDescriptionOfTiming" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuePerformanceObligationDescriptionOfTiming" xlink:to="us-gaap_RevenuePerformanceObligationDescriptionOfTiming_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenuePerformanceObligationDescriptionOfTiming_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue, Performance Obligation, Description of Timing </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenuePerformanceObligationDescriptionOfTiming_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue performance obligations timing </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_RevenuePerformanceObligationsTimingYears" xlink:label="payx_RevenuePerformanceObligationsTimingYears" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_RevenuePerformanceObligationsTimingYears" xlink:to="payx_RevenuePerformanceObligationsTimingYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_RevenuePerformanceObligationsTimingYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue Performance Obligations Timing Years </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_RevenuePerformanceObligationsTimingYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue Performance Obligations Timing Years </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_RevenuePerformanceObligationsTimingYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue performance obligations timing, years </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CapitalizedContractCostAmortizationPeriod" xlink:label="us-gaap_CapitalizedContractCostAmortizationPeriod" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedContractCostAmortizationPeriod" xlink:to="us-gaap_CapitalizedContractCostAmortizationPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizedContractCostAmortizationPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost, Amortization Period </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalizedContractCostAmortizationPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized contract cost, amortization period </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CapitalizedContractCostImpairmentLoss" xlink:label="us-gaap_CapitalizedContractCostImpairmentLoss" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedContractCostImpairmentLoss" xlink:to="us-gaap_CapitalizedContractCostImpairmentLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizedContractCostImpairmentLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost, Impairment Loss </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalizedContractCostImpairmentLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Impairment loss </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTable" xlink:label="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTable" xlink:to="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionLineItems" xlink:label="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionLineItems" xlink:to="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenueRemainingPerformanceObligation" xlink:label="us-gaap_RevenueRemainingPerformanceObligation" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRemainingPerformanceObligation" xlink:to="us-gaap_RevenueRemainingPerformanceObligation_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueRemainingPerformanceObligation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue, Remaining Performance Obligation, Amount </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenueRemainingPerformanceObligation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Deferred revenue, performance obligations </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1" xlink:label="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1" xlink:to="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Deferred revenue, timing of satisfaction </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="us-gaap_DisaggregationOfRevenueTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisaggregationOfRevenueTable" xlink:to="us-gaap_DisaggregationOfRevenueTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisaggregationOfRevenueTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Disaggregation of Revenue [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="us-gaap_DisaggregationOfRevenueLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisaggregationOfRevenueLineItems" xlink:to="us-gaap_DisaggregationOfRevenueLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisaggregationOfRevenueLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Disaggregation of Revenue [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ContractWithCustomerLiability" xlink:label="us-gaap_ContractWithCustomerLiability" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerLiability" xlink:to="us-gaap_ContractWithCustomerLiability_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractWithCustomerLiability_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Contract with Customer, Liability </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ContractWithCustomerLiability_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Balance, end of period </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ContractWithCustomerLiability_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Balance, beginning of period </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ContractWithCustomerLiabilityAdditions" xlink:label="payx_ContractWithCustomerLiabilityAdditions" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ContractWithCustomerLiabilityAdditions" xlink:to="payx_ContractWithCustomerLiabilityAdditions_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ContractWithCustomerLiabilityAdditions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Contract With Customer Liability Additions </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ContractWithCustomerLiabilityAdditions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Contract With Customer Liability Additions </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_ContractWithCustomerLiabilityAdditions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Deferral of revenue </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:label="us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:to="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Contract with Customer, Liability, Revenue Recognized </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Recognition of unearned revenue </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CapitalizedContractCostTable" xlink:label="us-gaap_CapitalizedContractCostTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedContractCostTable" xlink:to="us-gaap_CapitalizedContractCostTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizedContractCostTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CapitalizedContractCostAxis" xlink:label="us-gaap_CapitalizedContractCostAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedContractCostAxis" xlink:to="us-gaap_CapitalizedContractCostAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizedContractCostAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CapitalizedContractCostDomain" xlink:label="us-gaap_CapitalizedContractCostDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedContractCostDomain" xlink:to="us-gaap_CapitalizedContractCostDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizedContractCostDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalizedContractCostDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_CostsToObtainContractMember" xlink:label="payx_CostsToObtainContractMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_CostsToObtainContractMember" xlink:to="payx_CostsToObtainContractMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_CostsToObtainContractMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Costs To Obtain Contract [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_CostsToObtainContractMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Costs To Obtain Contract [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_CostsToObtainContractMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Costs To Obtain A Contract [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_CostsToFulfillContractMember" xlink:label="payx_CostsToFulfillContractMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_CostsToFulfillContractMember" xlink:to="payx_CostsToFulfillContractMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_CostsToFulfillContractMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Costs To Fulfill Contract [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_CostsToFulfillContractMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Costs To Fulfill Contract [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_CostsToFulfillContractMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Costs To Fulfill A Contract [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CapitalizedContractCostLineItems" xlink:label="us-gaap_CapitalizedContractCostLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedContractCostLineItems" xlink:to="us-gaap_CapitalizedContractCostLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizedContractCostLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CapitalizedContractCostNet" xlink:label="us-gaap_CapitalizedContractCostNet" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedContractCostNet" xlink:to="us-gaap_CapitalizedContractCostNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizedContractCostNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost, Net </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CapitalizedContractCostNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Ending balance </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CapitalizedContractCostNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Beginning balance </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_CapitalizedContractCost" xlink:label="payx_CapitalizedContractCost" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_CapitalizedContractCost" xlink:to="payx_CapitalizedContractCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_CapitalizedContractCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_CapitalizedContractCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalized Contract Cost </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_CapitalizedContractCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capitalization of costs </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ClassOfTreasuryStockTable" xlink:label="us-gaap_ClassOfTreasuryStockTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfTreasuryStockTable" xlink:to="us-gaap_ClassOfTreasuryStockTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfTreasuryStockTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Class of Treasury Stock [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShareRepurchaseProgramAxis" xlink:label="us-gaap_ShareRepurchaseProgramAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareRepurchaseProgramAxis" xlink:to="us-gaap_ShareRepurchaseProgramAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareRepurchaseProgramAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Share Repurchase Program [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShareRepurchaseProgramDomain" xlink:label="us-gaap_ShareRepurchaseProgramDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareRepurchaseProgramDomain" xlink:to="us-gaap_ShareRepurchaseProgramDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareRepurchaseProgramDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Share Repurchase Program [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareRepurchaseProgramDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Share Repurchase Program [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AuthorizedInJuly2016Member" xlink:label="payx_AuthorizedInJuly2016Member" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AuthorizedInJuly2016Member" xlink:to="payx_AuthorizedInJuly2016Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AuthorizedInJuly2016Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Authorized in July 2016 [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AuthorizedInJuly2016Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Authorized In July2016 [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_AuthorizedInJuly2016Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Authorized in July 2016 [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AuthorizedInMay2019Member" xlink:label="payx_AuthorizedInMay2019Member" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AuthorizedInMay2019Member" xlink:to="payx_AuthorizedInMay2019Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AuthorizedInMay2019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Authorized In May 2019 [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AuthorizedInMay2019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Authorized In May2019 [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_AuthorizedInMay2019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Authorized In May 2019 [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EquityClassOfTreasuryStockLineItems" xlink:label="us-gaap_EquityClassOfTreasuryStockLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityClassOfTreasuryStockLineItems" xlink:to="us-gaap_EquityClassOfTreasuryStockLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityClassOfTreasuryStockLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Equity, Class of Treasury Stock [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockRepurchaseProgramExpirationDate" xlink:label="us-gaap_StockRepurchaseProgramExpirationDate" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchaseProgramExpirationDate" xlink:to="us-gaap_StockRepurchaseProgramExpirationDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchaseProgramExpirationDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stock Repurchase Program Expiration Date </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockRepurchaseProgramExpirationDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Expiration date </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:to="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stock Repurchase Program, Authorized Amount </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Approved repurchase amount </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerShareBasicAbstract" xlink:label="us-gaap_EarningsPerShareBasicAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAbstract" xlink:to="us-gaap_EarningsPerShareBasicAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasicAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Earnings Per Share, Basic [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareBasicAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Basic earnings per share: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerShareDilutedAbstract" xlink:label="us-gaap_EarningsPerShareDilutedAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDilutedAbstract" xlink:to="us-gaap_EarningsPerShareDilutedAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareDilutedAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Earnings Per Share, Diluted [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareDilutedAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Diluted earnings per share: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Dilutive effect of common share equivalents </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted-average anti-dilutive common share equivalents </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Business Acquisitions, by Acquisition [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_WeightedAverageMember" xlink:label="srt_WeightedAverageMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_WeightedAverageMember" xlink:to="srt_WeightedAverageMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_WeightedAverageMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted Average [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_WeightedAverageMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted Average [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="us-gaap_BusinessAcquisitionLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionLineItems" xlink:to="us-gaap_BusinessAcquisitionLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Acquisition [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:label="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:to="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Acquisition, Effective Date of Acquisition </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Effective acquisition date </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationConsiderationTransferred1" xlink:to="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Consideration Transferred </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Purchase price </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_PaymentsToAcquireBusinessesBorrowingOnDebt" xlink:label="payx_PaymentsToAcquireBusinessesBorrowingOnDebt" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_PaymentsToAcquireBusinessesBorrowingOnDebt" xlink:to="payx_PaymentsToAcquireBusinessesBorrowingOnDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_PaymentsToAcquireBusinessesBorrowingOnDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Payments to Acquire Businesses, Borrowing On Debt </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_PaymentsToAcquireBusinessesBorrowingOnDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Payments to Acquire Businesses, Borrowing On Debt </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_PaymentsToAcquireBusinessesBorrowingOnDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Acquisition financed amount </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashAcquiredFromAcquisition" xlink:label="us-gaap_CashAcquiredFromAcquisition" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAcquiredFromAcquisition" xlink:to="us-gaap_CashAcquiredFromAcquisition_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAcquiredFromAcquisition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash Acquired from Acquisition </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAcquiredFromAcquisition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash acquired </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Intangible assets </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amortizable intangible assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:label="us-gaap_BusinessCombinationAcquisitionRelatedCosts" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:to="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Acquisition Related Costs </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Excluded incurred costs related to acquisition </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_BusinessCombinationAcquisitionRelatedCostsNetOfTax" xlink:label="payx_BusinessCombinationAcquisitionRelatedCostsNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_BusinessCombinationAcquisitionRelatedCostsNetOfTax" xlink:to="payx_BusinessCombinationAcquisitionRelatedCostsNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_BusinessCombinationAcquisitionRelatedCostsNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination Acquisition Related Costs, Net Of Tax </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_BusinessCombinationAcquisitionRelatedCostsNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination Acquisition Related Costs, Net Of Tax </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_BusinessCombinationAcquisitionRelatedCostsNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Excluded incurred costs related to acquisition, net of tax </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash and cash equivalents </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash" xlink:to="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Restricted Cash </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Restricted Cash </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Restricted cash </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Corporate investments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounts receivable, net of allowance for doubtful accounts </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPeoUnbilledReceivables" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPeoUnbilledReceivables" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPeoUnbilledReceivables" xlink:to="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPeoUnbilledReceivables_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPeoUnbilledReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed PEO Unbilled Receivables </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPeoUnbilledReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed PEO Unbilled Receivables </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPeoUnbilledReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> PEO unbilled receivables, net of advance collections </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidTaxes" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidTaxes" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidTaxes" xlink:to="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidTaxes_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidTaxes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Current Assets Prepaid Taxes </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidTaxes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Current Assets Prepaid Taxes </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidTaxes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Prepaid income taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Prepaid expenses and other current assets </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentRestrictedCash" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentRestrictedCash" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentRestrictedCash" xlink:to="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentRestrictedCash_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentRestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Restricted Cash </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentRestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Restricted Cash </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentRestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term restricted cash </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property and equipment </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other long-term assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total Assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accounts payable </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedCompensationAndRelatedItems" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedCompensationAndRelatedItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedCompensationAndRelatedItems" xlink:to="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedCompensationAndRelatedItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedCompensationAndRelatedItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Accrued Compensation And Related Items </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedCompensationAndRelatedItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Accrued Compensation And Related Items </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedCompensationAndRelatedItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accrued corporate compensation and related items </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedWorksiteEmployeeCompensationAndRelatedItems" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedWorksiteEmployeeCompensationAndRelatedItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedWorksiteEmployeeCompensationAndRelatedItems" xlink:to="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedWorksiteEmployeeCompensationAndRelatedItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedWorksiteEmployeeCompensationAndRelatedItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Worksite Employee Compensation And Related Items </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedWorksiteEmployeeCompensationAndRelatedItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Worksite Employee Compensation And Related Items </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedWorksiteEmployeeCompensationAndRelatedItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accrued worksite employee compensation and related items </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other current liabilities </link:label>
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<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Deferred income taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other long-term liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net Assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaRevenue" xlink:label="us-gaap_BusinessAcquisitionsProFormaRevenue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionsProFormaRevenue" xlink:to="us-gaap_BusinessAcquisitionsProFormaRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionsProFormaRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Acquisition, Pro Forma Revenue </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionsProFormaRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenues </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:label="us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:to="us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Business Acquisition, Pro Forma Net Income (Loss) </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InvestmentIncomeNonoperating" xlink:label="us-gaap_InvestmentIncomeNonoperating" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeNonoperating" xlink:to="us-gaap_InvestmentIncomeNonoperating_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeNonoperating_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Investment Income, Nonoperating </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InvestmentIncomeNonoperating_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Interest income on corporate investments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Interest Expense </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Interest expense </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="us-gaap_OtherNonoperatingIncomeExpense" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncomeExpense" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Nonoperating Income (Expense) </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfAvailableForSaleSecuritiesTable" xlink:label="us-gaap_ScheduleOfAvailableForSaleSecuritiesTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAvailableForSaleSecuritiesTable" xlink:to="us-gaap_ScheduleOfAvailableForSaleSecuritiesTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfAvailableForSaleSecuritiesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Available-for-sale Securities [Table] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfAvailableForSaleSecuritiesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Available-for-sale Securities [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="us-gaap_FinancialInstrumentAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentAxis" xlink:to="us-gaap_FinancialInstrumentAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Financial Instrument [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Transfers And Servicing Of Financial Instruments Types Of Financial Instruments [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Major Types of Debt and Equity Securities [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_VariableRateDemandObligationMember" xlink:label="us-gaap_VariableRateDemandObligationMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableRateDemandObligationMember" xlink:to="us-gaap_VariableRateDemandObligationMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableRateDemandObligationMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Variable Rate Demand Obligation [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_VariableRateDemandObligationMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Variable Rate Demand Notes [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xlink:label="us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xlink:to="us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Available-for-sale Securities [Line Items] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Available-for-sale Securities [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_NetUnrealizedGainLossOnAvailableForSaleSecurities" xlink:label="payx_NetUnrealizedGainLossOnAvailableForSaleSecurities" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_NetUnrealizedGainLossOnAvailableForSaleSecurities" xlink:to="payx_NetUnrealizedGainLossOnAvailableForSaleSecurities_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_NetUnrealizedGainLossOnAvailableForSaleSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> The net change in the difference between the fair value and the carrying value of available for sale securities that are recognized in AOCI. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_NetUnrealizedGainLossOnAvailableForSaleSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net Unrealized Gain Loss On Available For Sale Securities </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_NetUnrealizedGainLossOnAvailableForSaleSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net unrealized gains on available-for-sale securities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1" xlink:label="us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1" xlink:to="us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Number of available-for-sale securities in an unrealized loss position </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear" xlink:label="us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear" xlink:to="us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Number of available-for-sale securities in an unrealized loss position for more than twelve months </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue" xlink:to="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Securities in an unrealized loss position for more than twelve months, Fair value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Securities in an unrealized loss position for more than twelve months, fair value </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear" xlink:label="us-gaap_AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear" xlink:to="us-gaap_AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Number of available-for-sale securities in an unrealized loss position for less than twelve months </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AvailableForSaleSecuritiesDebtMaturitiesTerm" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesTerm" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AvailableForSaleSecuritiesDebtMaturitiesTerm" xlink:to="payx_AvailableForSaleSecuritiesDebtMaturitiesTerm_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Debt Maturities, Term </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Debt Maturities, Term </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale securities contractual maturities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AssetBackedSecuritiesMember" xlink:label="us-gaap_AssetBackedSecuritiesMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetBackedSecuritiesMember" xlink:to="us-gaap_AssetBackedSecuritiesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetBackedSecuritiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Asset Backed Securities [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetBackedSecuritiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Asset-Backed Securities [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CorporateDebtSecuritiesMember" xlink:label="us-gaap_CorporateDebtSecuritiesMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CorporateDebtSecuritiesMember" xlink:to="us-gaap_CorporateDebtSecuritiesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CorporateDebtSecuritiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Corporate Debt Securities [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CorporateDebtSecuritiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Corporate Bonds [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_USStatesAndPoliticalSubdivisionsMember" xlink:label="us-gaap_USStatesAndPoliticalSubdivisionsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_USStatesAndPoliticalSubdivisionsMember" xlink:to="us-gaap_USStatesAndPoliticalSubdivisionsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_USStatesAndPoliticalSubdivisionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> U S States And Political Subdivisions [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_USStatesAndPoliticalSubdivisionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> General Obligation Municipal Bonds [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_PreRefundedMunicipalBondsMember" xlink:label="payx_PreRefundedMunicipalBondsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_PreRefundedMunicipalBondsMember" xlink:to="payx_PreRefundedMunicipalBondsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_PreRefundedMunicipalBondsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Pre-refunded municipal bonds. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_PreRefundedMunicipalBondsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Pre Refunded Municipal Bonds [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_PreRefundedMunicipalBondsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Pre-Refunded Municipal Bonds [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_RevenueMunicipalBondsMember" xlink:label="payx_RevenueMunicipalBondsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_RevenueMunicipalBondsMember" xlink:to="payx_RevenueMunicipalBondsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_RevenueMunicipalBondsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue municipal bonds. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_RevenueMunicipalBondsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue Municipal Bonds [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_RevenueMunicipalBondsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue Municipal Bonds [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsAmortizedCost" xlink:label="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsAmortizedCost" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsAmortizedCost" xlink:to="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsAmortizedCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsAmortizedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds held for clients money market securities and other cash equivalents, amortized cost. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsAmortizedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held For Clients Money Market Securities And Other Cash Equivalents Amortized Cost </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsAmortizedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds held for clients' money market securities and other cash equivalents, Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsFairValue" xlink:label="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsFairValue" xlink:to="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds held for clients money market securities and other cash equivalents, fair value. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held For Clients Money Market Securities And Other Cash Equivalents Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_FundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalentsFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds held for clients' money market securities and other cash equivalents, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis" xlink:label="us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis" xlink:to="us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Debt Securities, Amortized Cost Basis </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale securities, Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:label="us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:to="us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale securities, Gross unrealized gains </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:label="us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:to="us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale securities, Gross unrealized losses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtSecurities" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:to="us-gaap_AvailableForSaleSecuritiesDebtSecurities_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Debt Securities </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale securities </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale securities, Fair value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtSecurities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale securities, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_OtherSecuritiesAmortizedCost" xlink:label="payx_OtherSecuritiesAmortizedCost" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_OtherSecuritiesAmortizedCost" xlink:to="payx_OtherSecuritiesAmortizedCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_OtherSecuritiesAmortizedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other securities amortized cost. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_OtherSecuritiesAmortizedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Securities Amortized Cost </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="payx_OtherSecuritiesAmortizedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other, Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_OtherSecuritiesGrossUnrealizedGains" xlink:label="payx_OtherSecuritiesGrossUnrealizedGains" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_OtherSecuritiesGrossUnrealizedGains" xlink:to="payx_OtherSecuritiesGrossUnrealizedGains_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_OtherSecuritiesGrossUnrealizedGains_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Securities Gross Unrealized Gains </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_OtherSecuritiesGrossUnrealizedGains_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Securities Gross Unrealized Gains </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_OtherSecuritiesGrossUnrealizedGains_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other, Gross unrealized gains </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_OtherSecuritiesGrossUnrealizedLosses" xlink:label="payx_OtherSecuritiesGrossUnrealizedLosses" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_OtherSecuritiesGrossUnrealizedLosses" xlink:to="payx_OtherSecuritiesGrossUnrealizedLosses_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_OtherSecuritiesGrossUnrealizedLosses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Securities Gross Unrealized Losses </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_OtherSecuritiesGrossUnrealizedLosses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Securities Gross Unrealized Losses </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="payx_OtherSecuritiesGrossUnrealizedLosses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other, Gross unrealized losses </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_OtherSecuritiesFairValue" xlink:label="payx_OtherSecuritiesFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_OtherSecuritiesFairValue" xlink:to="payx_OtherSecuritiesFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_OtherSecuritiesFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other securities fair value. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_OtherSecuritiesFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Securities Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_OtherSecuritiesFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_FundsHeldForClientsAndCorporateInvestmentsAmortizedCost" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsAmortizedCost" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_FundsHeldForClientsAndCorporateInvestmentsAmortizedCost" xlink:to="payx_FundsHeldForClientsAndCorporateInvestmentsAmortizedCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsAmortizedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds held for clients and corporate investments amortized cost. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsAmortizedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held For Clients And Corporate Investments Amortized Cost </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsAmortizedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total funds held for clients and corporate investments, Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedGains" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedGains" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedGains" xlink:to="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedGains_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedGains_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held For Clients And Corporate Investments Gross Unrealized Gains </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedGains_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held For Clients And Corporate Investments Gross Unrealized Gains </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedGains_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total funds held for clients and corporate investments, Gross unrealized gains </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedLosses" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedLosses" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedLosses" xlink:to="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedLosses_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedLosses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held For Clients And Corporate Investments Gross Unrealized Losses </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedLosses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held For Clients And Corporate Investments Gross Unrealized Losses </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsGrossUnrealizedLosses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total funds held for clients and corporate investments, Gross unrealized losses </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_FundsHeldForClientsAndCorporateInvestmentsFairValue" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_FundsHeldForClientsAndCorporateInvestmentsFairValue" xlink:to="payx_FundsHeldForClientsAndCorporateInvestmentsFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds held for clients and corporate investments, fair value. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Funds Held For Clients And Corporate Investments Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="payx_FundsHeldForClientsAndCorporateInvestmentsFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total funds held for clients and corporate investments, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss" xlink:to="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Securities in an unrealized loss position for more than twelve months, Gross unrealized losses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss" xlink:to="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total, Gross unrealized losses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue" xlink:to="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Securities in an unrealized loss position for less than twelve months, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue" xlink:to="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesGrossRealizedGains" xlink:label="us-gaap_AvailableForSaleSecuritiesGrossRealizedGains" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesGrossRealizedGains" xlink:to="us-gaap_AvailableForSaleSecuritiesGrossRealizedGains_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesGrossRealizedGains_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Gross Realized Gains </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesGrossRealizedGains_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Realized gains </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses" xlink:label="us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses" xlink:to="us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Gross Realized Losses </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Realized losses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet" xlink:label="us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet" xlink:to="us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Gross Realized Gain (Loss) </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Net realized gains/(losses) </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:to="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Due in one year or less, Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeAmortizedCostBasis" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeAmortizedCostBasis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeAmortizedCostBasis" xlink:to="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeAmortizedCostBasis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeAmortizedCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amount after adjustments of available-for-sale debt securities at cost, maturing after the first fiscal year through the third fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings less cumulative-effect adjustments, and fair value hedge accounting adjustments. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeAmortizedCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Debt Maturities, After Year One Through Year Three, Amortized Cost Basis </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeAmortizedCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Due after one year through three years, Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveAmortizedCostBasis" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveAmortizedCostBasis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveAmortizedCostBasis" xlink:to="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveAmortizedCostBasis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveAmortizedCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amount after adjustments of available-for-sale debt securities at cost, maturing after the third fiscal year through the fifth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings less cumulative-effect adjustments, and fair value hedge accounting adjustments. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveAmortizedCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Debt Maturities, After Year Three Through Year Five, Amortized Cost Basis </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveAmortizedCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Due after three years through five years, Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsAmortizedCostBasis" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsAmortizedCostBasis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsAmortizedCostBasis" xlink:to="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsAmortizedCostBasis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsAmortizedCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amount after adjustments of available-for-sale debt securities at cost, maturing after the fifth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings less cumulative-effect adjustments, and fair value hedge accounting adjustments. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsAmortizedCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Debt Maturities, after Five Years, Amortized Cost Basis </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsAmortizedCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Due after five years, Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:to="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Due in one year or less, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeFairValue" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeFairValue" xlink:to="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair value of available-for-sale debt securities maturing after the first fiscal year through the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Debt Maturities, After Year One Through Year Three, Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearOneThroughYearThreeFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Due after one year through three years, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveFairValue" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveFairValue" xlink:to="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair value of available-for-sale debt securities maturing after the third fiscal year through the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Debt Maturities, After Year Three Through Year Five, Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterYearThreeThroughYearFiveFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Due after three years through five years, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsFairValue" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsFairValue" xlink:to="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair value of available-for-sale debt securities maturing after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Available-for-sale Securities, Debt Maturities, after Five Years, Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Due after five years, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Measurements, Recurring and Nonrecurring [Table] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_InvestmentsConsideredCashEquivalentsMaturityPeriod" xlink:label="payx_InvestmentsConsideredCashEquivalentsMaturityPeriod" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_InvestmentsConsideredCashEquivalentsMaturityPeriod" xlink:to="payx_InvestmentsConsideredCashEquivalentsMaturityPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_InvestmentsConsideredCashEquivalentsMaturityPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Short-term investments considered cash equivalents, maturity at acquisition </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_InvestmentsConsideredCashEquivalentsMaturityPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Investments Considered Cash Equivalents Maturity Period </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_InvestmentsConsideredCashEquivalentsMaturityPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Short-term investments considered cash equivalents, maturity at acquisition </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value, Hierarchy [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Measurements Fair Value Hierarchy [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value, Measurements, Fair Value Hierarchy [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="us-gaap_FairValueInputsLevel1Member" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel1Member" xlink:to="us-gaap_FairValueInputsLevel1Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Inputs Level1 [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Quoted Prices in Active Markets (Level 1) [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="us-gaap_FairValueInputsLevel2Member" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel2Member" xlink:to="us-gaap_FairValueInputsLevel2Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Inputs Level2 [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Significant Other Observable Inputs (Level 2) [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueByAssetClassAxis" xlink:label="us-gaap_FairValueByAssetClassAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByAssetClassAxis" xlink:to="us-gaap_FairValueByAssetClassAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByAssetClassAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Asset Class [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:to="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation By Asset Class [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Asset Class [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommercialPaperMember" xlink:label="us-gaap_CommercialPaperMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommercialPaperMember" xlink:to="us-gaap_CommercialPaperMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommercialPaperMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Commercial Paper [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommercialPaperMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Commercial Paper [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BankTimeDepositsMember" xlink:label="us-gaap_BankTimeDepositsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BankTimeDepositsMember" xlink:to="us-gaap_BankTimeDepositsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BankTimeDepositsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Bank Time Deposits [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BankTimeDepositsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Time Deposits [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_USTreasuryAndGovernmentMember" xlink:label="us-gaap_USTreasuryAndGovernmentMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_USTreasuryAndGovernmentMember" xlink:to="us-gaap_USTreasuryAndGovernmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_USTreasuryAndGovernmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> U S Treasury And Government [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_USTreasuryAndGovernmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> U.S. Government Agency And Treasury Securities [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MoneyMarketFundsMember" xlink:label="us-gaap_MoneyMarketFundsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MoneyMarketFundsMember" xlink:to="us-gaap_MoneyMarketFundsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MoneyMarketFundsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Money Market Funds [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MoneyMarketFundsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Money Market Securities [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueByMeasurementFrequencyAxis" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByMeasurementFrequencyAxis" xlink:to="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Measurement Frequency [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementFrequencyDomain" xlink:to="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Measurement Frequency [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value, Measurement Frequency [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueMeasurementsRecurringMember" xlink:label="us-gaap_FairValueMeasurementsRecurringMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsRecurringMember" xlink:to="us-gaap_FairValueMeasurementsRecurringMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementsRecurringMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Measurements Recurring [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementsRecurringMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Recurring [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:to="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash and Cash Equivalents, Fair Value Disclosure </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Restricted and unrestricted cash equivalents </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherAssetsFairValueDisclosure" xlink:label="us-gaap_OtherAssetsFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsFairValueDisclosure" xlink:to="us-gaap_OtherAssetsFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Assets, Fair Value Disclosure </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherAssetsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherLiabilitiesFairValueDisclosure" xlink:label="us-gaap_OtherLiabilitiesFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesFairValueDisclosure" xlink:to="us-gaap_OtherLiabilitiesFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilitiesFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Liabilities, Fair Value Disclosure </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherLiabilitiesFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other long-term liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Measurement Inputs and Valuation Techniques [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueMeasurementsNonrecurringMember" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsNonrecurringMember" xlink:to="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fair Value Measurements Nonrecurring [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Non-Recurring Basis [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_SeriesSeniorNotesMember" xlink:label="payx_SeriesSeniorNotesMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_SeriesSeniorNotesMember" xlink:to="payx_SeriesSeniorNotesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_SeriesSeniorNotesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Series A Senior Notes [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_SeriesSeniorNotesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Series Senior Notes [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_SeriesSeniorNotesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Senior Notes, Series A [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_SeriesBSeniorNotesMember" xlink:label="payx_SeriesBSeniorNotesMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_SeriesBSeniorNotesMember" xlink:to="payx_SeriesBSeniorNotesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_SeriesBSeniorNotesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Series B Senior Notes [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_SeriesBSeniorNotesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Series B Senior Notes [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_SeriesBSeniorNotesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Senior Notes, Series B [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term Debt, Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="us-gaap_LongtermDebtTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Longterm Debt Type [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term Debt, Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SeniorNotesMember" xlink:label="us-gaap_SeniorNotesMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeniorNotesMember" xlink:to="us-gaap_SeniorNotesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SeniorNotesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Senior Notes [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SeniorNotesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Senior Notes [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="us-gaap_DebtInstrumentLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentLineItems" xlink:to="us-gaap_DebtInstrumentLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="us-gaap_DebtInstrumentCarryingAmount" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_DebtInstrumentCarryingAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term Debt, Gross </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Aggregate principal amount </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total long-term borrowings, Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="us-gaap_DeferredFinanceCostsNet" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsNet" xlink:to="us-gaap_DeferredFinanceCostsNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredFinanceCostsNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Issuance Costs, Net </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_DeferredFinanceCostsNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Less: Debt issuance costs, net of accumulated amortization, Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term Debt </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term borrowings, net of debt issuance costs, Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_DebtInstrumentFairValueAmount" xlink:label="payx_DebtInstrumentFairValueAmount" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_DebtInstrumentFairValueAmount" xlink:to="payx_DebtInstrumentFairValueAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_DebtInstrumentFairValueAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument Fair Value Amount </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_DebtInstrumentFairValueAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument Fair Value Amount </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_DebtInstrumentFairValueAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total long-term borrowings, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_DeferredFinanceCostsNetFairValue" xlink:label="payx_DeferredFinanceCostsNetFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_DeferredFinanceCostsNetFairValue" xlink:to="payx_DeferredFinanceCostsNetFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_DeferredFinanceCostsNetFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Deferred Finance Costs Net Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_DeferredFinanceCostsNetFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Deferred Finance Costs Net Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="payx_DeferredFinanceCostsNetFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Less: Debt issuance costs, net of accumulated amortization, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtFairValue" xlink:label="us-gaap_LongTermDebtFairValue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtFairValue" xlink:to="us-gaap_LongTermDebtFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term Debt, Fair Value </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LongTermDebtFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term borrowings, net of debt issuance costs, Fair value </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeLeaseDescriptionTable" xlink:label="us-gaap_LesseeLeaseDescriptionTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeLeaseDescriptionTable" xlink:to="us-gaap_LesseeLeaseDescriptionTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeLeaseDescriptionTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Lease, Description [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeLeaseDescriptionLineItems" xlink:label="us-gaap_LesseeLeaseDescriptionLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeLeaseDescriptionLineItems" xlink:to="us-gaap_LesseeLeaseDescriptionLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeLeaseDescriptionLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Lease, Description [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseTermOfContract" xlink:label="us-gaap_LesseeOperatingLeaseTermOfContract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseTermOfContract" xlink:to="us-gaap_LesseeOperatingLeaseTermOfContract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseTermOfContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Lease, Term of Contract </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseTermOfContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating leases, remaining term of contract </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_LesseeOperatingLeaseTermExpirationYear" xlink:label="payx_LesseeOperatingLeaseTermExpirationYear" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_LesseeOperatingLeaseTermExpirationYear" xlink:to="payx_LesseeOperatingLeaseTermExpirationYear_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_LesseeOperatingLeaseTermExpirationYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee Operating Lease Term Expiration Year </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_LesseeOperatingLeaseTermExpirationYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee Operating Lease Term Expiration Year </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_LesseeOperatingLeaseTermExpirationYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating leases, contractual term </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseRenewalTerm" xlink:label="us-gaap_LesseeOperatingLeaseRenewalTerm" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseRenewalTerm" xlink:to="us-gaap_LesseeOperatingLeaseRenewalTerm_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseRenewalTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Lease, Renewal Term </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseRenewalTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating leases, renewal term </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseCost" xlink:label="us-gaap_OperatingLeaseCost" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseCost" xlink:to="us-gaap_OperatingLeaseCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Lease, Cost </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Fixed payment operating lease expense </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_LesseeOperatingNumberOfLeasesNotYetCommenced" xlink:label="payx_LesseeOperatingNumberOfLeasesNotYetCommenced" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_LesseeOperatingNumberOfLeasesNotYetCommenced" xlink:to="payx_LesseeOperatingNumberOfLeasesNotYetCommenced_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_LesseeOperatingNumberOfLeasesNotYetCommenced_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee Operating Number Of Leases Not Yet Commenced </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_LesseeOperatingNumberOfLeasesNotYetCommenced_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee Operating Number Of Leases Not Yet Commenced </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_LesseeOperatingNumberOfLeasesNotYetCommenced_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Number of lease agreements, not yet commenced </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiabilityCurrent" xlink:to="us-gaap_OperatingLeaseLiabilityCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Lease, Liability, Current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating lease liabilities, current </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Current portion </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:label="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:to="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Lease, Weighted Average Remaining Lease Term </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted average remaining lease term (in years) </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent" xlink:label="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent" xlink:to="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Lease, Weighted Average Discount Rate, Percent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted average discount rate </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_VariableLeaseCost" xlink:label="us-gaap_VariableLeaseCost" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableLeaseCost" xlink:to="us-gaap_VariableLeaseCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableLeaseCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Variable Lease, Cost </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_VariableLeaseCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Variable payment operating lease expense </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShortTermLeaseCost" xlink:label="us-gaap_ShortTermLeaseCost" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermLeaseCost" xlink:to="us-gaap_ShortTermLeaseCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShortTermLeaseCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Short-term Lease, Cost </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShortTermLeaseCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Short-term lease expense </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeasePayments" xlink:label="us-gaap_OperatingLeasePayments" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasePayments" xlink:to="us-gaap_OperatingLeasePayments_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasePayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Lease, Payments </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasePayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Cash paid for amounts included in the measurement of lease liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_OperatingLeaseRightOfUseAssetAmortization" xlink:label="payx_OperatingLeaseRightOfUseAssetAmortization" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_OperatingLeaseRightOfUseAssetAmortization" xlink:to="payx_OperatingLeaseRightOfUseAssetAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_OperatingLeaseRightOfUseAssetAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Lease Right Of Use Asset Amortization </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_OperatingLeaseRightOfUseAssetAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Operating Lease Right Of Use Asset Amortization </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_OperatingLeaseRightOfUseAssetAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amortization of ROU assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability" xlink:label="us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability" xlink:to="us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Right-of-Use Asset Obtained in Exchange for Operating Lease Liability </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> ROU assets obtained in exchange for new operating lease liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> 2020 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Lease, Liability, Payments, Due Year Two </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> 2021 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Lease, Liability, Payments, Due Year Three </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> 2022 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Lease, Liability, Payments, Due Year Four </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> 2023 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Lease, Liability, Payments, Due Year Five </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> 2024 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Lease, Liability, Payments, Due after Year Five </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Thereafter </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Lease, Liability, Payments, Due </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total future lease payments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Lessee, Operating Lease, Liability, Undiscounted Excess Amount </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Less: imputed interest </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property, Plant and Equipment [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property, Plant and Equipment [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Depreciation" xlink:label="us-gaap_Depreciation" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Depreciation" xlink:to="us-gaap_Depreciation_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Depreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Depreciation </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_Depreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Depreciation expense </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property, Plant and Equipment, Type [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property Plant And Equipment Type [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property, Plant and Equipment, Type [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LandAndLandImprovementsMember" xlink:label="us-gaap_LandAndLandImprovementsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LandAndLandImprovementsMember" xlink:to="us-gaap_LandAndLandImprovementsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LandAndLandImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Land And Land Improvements [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LandAndLandImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Land and Improvements [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BuildingAndBuildingImprovementsMember" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BuildingAndBuildingImprovementsMember" xlink:to="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Building And Building Improvements [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Buildings and Improvements [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TechnologyEquipmentMember" xlink:label="us-gaap_TechnologyEquipmentMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TechnologyEquipmentMember" xlink:to="us-gaap_TechnologyEquipmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TechnologyEquipmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Technology Equipment [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TechnologyEquipmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Data Processing Equipment [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SoftwareAndSoftwareDevelopmentCostsMember" xlink:label="us-gaap_SoftwareAndSoftwareDevelopmentCostsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SoftwareAndSoftwareDevelopmentCostsMember" xlink:to="us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Software And Software Development Costs [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Software [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FurnitureAndFixturesMember" xlink:label="us-gaap_FurnitureAndFixturesMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FurnitureAndFixturesMember" xlink:to="us-gaap_FurnitureAndFixturesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FurnitureAndFixturesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Furniture And Fixtures [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FurnitureAndFixturesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Furniture, Fixtures, and Equipment [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LeaseholdImprovementsMember" xlink:label="us-gaap_LeaseholdImprovementsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseholdImprovementsMember" xlink:to="us-gaap_LeaseholdImprovementsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseholdImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Leasehold Improvements [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeaseholdImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Leasehold Improvements [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ConstructionInProgress1Member" xlink:label="payx_ConstructionInProgress1Member" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ConstructionInProgress1Member" xlink:to="payx_ConstructionInProgress1Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ConstructionInProgress1Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Capital spending for items, including internally developed software and other capital projects, not yet placed in service. </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ConstructionInProgress1Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Construction In Progress1 [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_ConstructionInProgress1Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Construction in Progress [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="us-gaap_PropertyPlantAndEquipmentGross" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Property, Plant and Equipment, Gross </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total property and equipment, gross </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Less: Accumulated depreciation </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfGoodwillTable" xlink:label="us-gaap_ScheduleOfGoodwillTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfGoodwillTable" xlink:to="us-gaap_ScheduleOfGoodwillTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfGoodwillTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Goodwill [Table] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfGoodwillTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Goodwill and Intangible Assets [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GoodwillLineItems" xlink:label="us-gaap_GoodwillLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillLineItems" xlink:to="us-gaap_GoodwillLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill [Line Items] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GoodwillLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill and Intangible Assets [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="us-gaap_AmortizationOfIntangibleAssets" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfIntangibleAssets" xlink:to="us-gaap_AmortizationOfIntangibleAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amortization of Intangible Assets </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amortization expense </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetImpairment" xlink:label="us-gaap_GoodwillAndIntangibleAssetImpairment" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillAndIntangibleAssetImpairment" xlink:to="us-gaap_GoodwillAndIntangibleAssetImpairment_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillAndIntangibleAssetImpairment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill and Intangible Asset Impairment </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GoodwillAndIntangibleAssetImpairment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Impairment loss relates to goodwill or intangible assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustmentsAbstract" xlink:label="us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustmentsAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustmentsAbstract" xlink:to="us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustmentsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustmentsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill, Translation and Purchase Accounting Adjustments [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustmentsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Changes during the period: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="us-gaap_GoodwillAcquiredDuringPeriod" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillAcquiredDuringPeriod" xlink:to="us-gaap_GoodwillAcquiredDuringPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillAcquiredDuringPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill, Acquired During Period </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GoodwillAcquiredDuringPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill acquired </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GoodwillPurchaseAccountingAdjustments" xlink:label="us-gaap_GoodwillPurchaseAccountingAdjustments" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillPurchaseAccountingAdjustments" xlink:to="us-gaap_GoodwillPurchaseAccountingAdjustments_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillPurchaseAccountingAdjustments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill, Purchase Accounting Adjustments </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GoodwillPurchaseAccountingAdjustments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Acquisition accounting adjustments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GoodwillForeignCurrencyTranslationGainLoss" xlink:label="us-gaap_GoodwillForeignCurrencyTranslationGainLoss" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillForeignCurrencyTranslationGainLoss" xlink:to="us-gaap_GoodwillForeignCurrencyTranslationGainLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillForeignCurrencyTranslationGainLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Goodwill, Foreign Currency Translation Gain (Loss) </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GoodwillForeignCurrencyTranslationGainLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Currency translation adjustment </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:to="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Finite-Lived Intangible Assets [Table] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Intangible Assets [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finite-Lived Intangible Assets by Major Class [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finite Lived Intangible Assets Major Class Name [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finite-Lived Intangible Assets, Major Class Name [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CustomerListsMember" xlink:label="us-gaap_CustomerListsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerListsMember" xlink:to="us-gaap_CustomerListsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CustomerListsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Customer Lists [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CustomerListsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Client Lists [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Indefinite-lived Intangible Assets [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Indefinite Lived Intangible Assets Major Class Name [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Indefinite-lived Intangible Assets, Major Class Name [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherIntangibleAssetsMember" xlink:label="us-gaap_OtherIntangibleAssetsMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherIntangibleAssetsMember" xlink:to="us-gaap_OtherIntangibleAssetsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherIntangibleAssetsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Intangible Assets [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherIntangibleAssetsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Intangible Assets [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_IntangibleAssetsLineItems" xlink:label="payx_IntangibleAssetsLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_IntangibleAssetsLineItems" xlink:to="payx_IntangibleAssetsLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_IntangibleAssetsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Intangible Assets [Line Items] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_IntangibleAssetsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Intangible Assets [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IntangibleAssetsGrossExcludingGoodwill" xlink:label="us-gaap_IntangibleAssetsGrossExcludingGoodwill" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsGrossExcludingGoodwill" xlink:to="us-gaap_IntangibleAssetsGrossExcludingGoodwill_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsGrossExcludingGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Intangible Assets, Gross (Excluding Goodwill) </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IntangibleAssetsGrossExcludingGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total intangible assets, gross </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finite-Lived Intangible Assets, Accumulated Amortization </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Less: Accumulated amortization </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:to="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Year ending May 31 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> 2020 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finite-Lived Intangible Assets, Amortization Expense, Year Two </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> 2021 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finite-Lived Intangible Assets, Amortization Expense, Year Three </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> 2022 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finite-Lived Intangible Assets, Amortization Expense, Year Four </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> 2023 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Finite-Lived Intangible Assets, Amortization Expense, Year Five </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> 2024 </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Unrealized gains on available-for-sale securities, net of tax </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Reclassification adjustment for the (gain)/loss on sale of available-for-sale securities realized in net income, net of tax </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossTaxPortionAttributableToParent1" xlink:label="us-gaap_OtherComprehensiveIncomeLossTaxPortionAttributableToParent1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossTaxPortionAttributableToParent1" xlink:to="us-gaap_OtherComprehensiveIncomeLossTaxPortionAttributableToParent1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeLossTaxPortionAttributableToParent1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLossTaxPortionAttributableToParent1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Total tax expense included in other comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StandbyLettersOfCreditMember" xlink:label="us-gaap_StandbyLettersOfCreditMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StandbyLettersOfCreditMember" xlink:to="us-gaap_StandbyLettersOfCreditMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StandbyLettersOfCreditMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Standby Letters Of Credit [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StandbyLettersOfCreditMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Standby Letters of Credit [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_JpmOneBillionCreditFacilityJuly312019Member" xlink:label="payx_JpmOneBillionCreditFacilityJuly312019Member" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_JpmOneBillionCreditFacilityJuly312019Member" xlink:to="payx_JpmOneBillionCreditFacilityJuly312019Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_JpmOneBillionCreditFacilityJuly312019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> JPM One Billion Credit Facility July 31 2019 [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_JpmOneBillionCreditFacilityJuly312019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Jpm One Billion Credit Facility July312019 [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_JpmOneBillionCreditFacilityJuly312019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> JPM $1 Billion Credit Facility [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_PncTwoHundredFiftyMillionCreditFacilityMember" xlink:label="payx_PncTwoHundredFiftyMillionCreditFacilityMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_PncTwoHundredFiftyMillionCreditFacilityMember" xlink:to="payx_PncTwoHundredFiftyMillionCreditFacilityMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_PncTwoHundredFiftyMillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> PNC Two Hundred Fifty Million Credit Facility [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_PncTwoHundredFiftyMillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Pnc Two Hundred Fifty Million Credit Facility [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_PncTwoHundredFiftyMillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> PNC $250 Million Credit Facility [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_PncOneHundredFiftyMillionCreditFacilityMember" xlink:label="payx_PncOneHundredFiftyMillionCreditFacilityMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_PncOneHundredFiftyMillionCreditFacilityMember" xlink:to="payx_PncOneHundredFiftyMillionCreditFacilityMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_PncOneHundredFiftyMillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> PNC One Hundred Fifty Million Credit Facility [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_PncOneHundredFiftyMillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Pnc One Hundred Fifty Million Credit Facility [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_PncOneHundredFiftyMillionCreditFacilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> PNC $150 Million Credit Facility [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Legal Entity [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Entity [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_PaychexOfNewYorkLlcMember" xlink:label="payx_PaychexOfNewYorkLlcMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_PaychexOfNewYorkLlcMember" xlink:to="payx_PaychexOfNewYorkLlcMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_PaychexOfNewYorkLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Paychex Of New York LLC [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_PaychexOfNewYorkLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Paychex Of New York Llc [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_PaychexOfNewYorkLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Paychex of New York, LLC [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_ThreeDaysMember" xlink:label="payx_ThreeDaysMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_ThreeDaysMember" xlink:to="payx_ThreeDaysMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_ThreeDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Three Days [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_ThreeDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Three Days [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_ThreeDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Three Days [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_EightDaysMember" xlink:label="payx_EightDaysMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_EightDaysMember" xlink:to="payx_EightDaysMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_EightDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Eight Days [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_EightDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Eight Days [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_EightDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Eight Days [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_TenDaysMember" xlink:label="payx_TenDaysMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_TenDaysMember" xlink:to="payx_TenDaysMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_TenDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Ten Days [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_TenDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Ten Days [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_TenDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Ten Days [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_SeventyOneDaysMember" xlink:label="payx_SeventyOneDaysMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_SeventyOneDaysMember" xlink:to="payx_SeventyOneDaysMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_SeventyOneDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Seventy-One Days [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_SeventyOneDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Seventy One Days [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_SeventyOneDaysMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Seventy-One Days [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_OvernightBasisMember" xlink:label="payx_OvernightBasisMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_OvernightBasisMember" xlink:to="payx_OvernightBasisMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_OvernightBasisMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Overnight Basis [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_OvernightBasisMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Overnight Basis [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_OvernightBasisMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Overnight Basis [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="us-gaap_VariableRateAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableRateAxis" xlink:to="us-gaap_VariableRateAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableRateAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Variable Rate [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="us-gaap_VariableRateDomain" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableRateDomain" xlink:to="us-gaap_VariableRateDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableRateDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Variable Rate [Domain] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_VariableRateDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Variable Rate [Domain] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:label="us-gaap_LondonInterbankOfferedRateLIBORMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:to="us-gaap_LondonInterbankOfferedRateLIBORMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LondonInterbankOfferedRateLIBORMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> London Interbank Offered Rate L I B O R [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LondonInterbankOfferedRateLIBORMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> LIBOR [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LineOfCredit" xlink:label="us-gaap_LineOfCredit" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCredit" xlink:to="us-gaap_LineOfCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term Line of Credit </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amounts outstanding </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility, Maximum Borrowing Capacity </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Maximum borrowing capacity </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Maximum Amount Available </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:label="us-gaap_DebtInstrumentTerm" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTerm" xlink:to="us-gaap_DebtInstrumentTerm_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument, Term </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Term </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LineOfCreditFacilityExpirationDate1" xlink:label="us-gaap_LineOfCreditFacilityExpirationDate1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityExpirationDate1" xlink:to="us-gaap_LineOfCreditFacilityExpirationDate1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityExpirationDate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility, Expiration Date </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityExpirationDate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Expiration Date </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityExpirationDate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Expiration date </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xlink:label="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xlink:to="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility, Maximum Amount Outstanding During Period </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Maximum amount borrowed </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amount borrowed </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_LineOfCreditFacilityNumberOfDaysBorrowed" xlink:label="payx_LineOfCreditFacilityNumberOfDaysBorrowed" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_LineOfCreditFacilityNumberOfDaysBorrowed" xlink:to="payx_LineOfCreditFacilityNumberOfDaysBorrowed_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_LineOfCreditFacilityNumberOfDaysBorrowed_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility, Number Of Days Borrowed </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_LineOfCreditFacilityNumberOfDaysBorrowed_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility, Number Of Days Borrowed </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="payx_LineOfCreditFacilityNumberOfDaysBorrowed_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Number of days borrowed </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_DebtWeightedAverageInterestRate1" xlink:label="payx_DebtWeightedAverageInterestRate1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_DebtWeightedAverageInterestRate1" xlink:to="payx_DebtWeightedAverageInterestRate1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_DebtWeightedAverageInterestRate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Weighted Average Interest Rate 1 </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_DebtWeightedAverageInterestRate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Weighted Average Interest Rate 1 </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_DebtWeightedAverageInterestRate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted-average interest rate </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LettersOfCreditOutstandingAmount" xlink:label="us-gaap_LettersOfCreditOutstandingAmount" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LettersOfCreditOutstandingAmount" xlink:to="us-gaap_LettersOfCreditOutstandingAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LettersOfCreditOutstandingAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Letters of Credit Outstanding, Amount </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LettersOfCreditOutstandingAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Amounts outstanding </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_PaychexAdvanceLlcMember" xlink:label="payx_PaychexAdvanceLlcMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_PaychexAdvanceLlcMember" xlink:to="payx_PaychexAdvanceLlcMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_PaychexAdvanceLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Paychex Advance LLC [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_PaychexAdvanceLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Paychex Advance Llc [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_PaychexAdvanceLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Paychex Advance, LLC [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LineOfCreditFacilityInitiationDate1" xlink:label="us-gaap_LineOfCreditFacilityInitiationDate1" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityInitiationDate1" xlink:to="us-gaap_LineOfCreditFacilityInitiationDate1_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityInitiationDate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility, Initiation Date </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityInitiationDate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Date Entered </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LineOfCreditFacilityAverageOutstandingAmount" xlink:label="us-gaap_LineOfCreditFacilityAverageOutstandingAmount" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAverageOutstandingAmount" xlink:to="us-gaap_LineOfCreditFacilityAverageOutstandingAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityAverageOutstandingAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Line of Credit Facility, Average Outstanding Amount </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityAverageOutstandingAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Weighted-average amount borrowed </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_CompanyAndPaychexOfNewYorkMember" xlink:label="payx_CompanyAndPaychexOfNewYorkMember" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_CompanyAndPaychexOfNewYorkMember" xlink:to="payx_CompanyAndPaychexOfNewYorkMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_CompanyAndPaychexOfNewYorkMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Company And Paychex Of New York [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_CompanyAndPaychexOfNewYorkMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Company And Paychex Of New York [Member] </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_CompanyAndPaychexOfNewYorkMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Company And Paychex Of New York [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtMaturityDate" xlink:label="us-gaap_LongTermDebtMaturityDate" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturityDate" xlink:to="us-gaap_LongTermDebtMaturityDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturityDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Long-term Debt, Maturity Date </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtMaturityDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Principal payment dates </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="us-gaap_DebtInstrumentTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Schedule of Long-term Debt Instruments [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument, Interest Rate, Stated Percentage </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Stated interest rate </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:to="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument, Interest Rate, Effective Percentage </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Effective interest rate </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentInterestRateTerms" xlink:label="us-gaap_DebtInstrumentInterestRateTerms" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateTerms" xlink:to="us-gaap_DebtInstrumentInterestRateTerms_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateTerms_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument, Interest Rate Terms </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateTerms_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Interest rate type </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentFrequencyOfPeriodicPayment" xlink:label="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment" xlink:to="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument, Frequency of Periodic Payment </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Interest payment dates </link:label>
<link:loc xlink:type="locator" xlink:href="payx-20200229.xsd#payx_DebtInstrumentNoteType" xlink:label="payx_DebtInstrumentNoteType" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="payx_DebtInstrumentNoteType" xlink:to="payx_DebtInstrumentNoteType_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="payx_DebtInstrumentNoteType_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument Note Type </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="payx_DebtInstrumentNoteType_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Debt Instrument Note Type </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="payx_DebtInstrumentNoteType_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Note type </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherCommitmentsTable" xlink:label="us-gaap_OtherCommitmentsTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsTable" xlink:to="us-gaap_OtherCommitmentsTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherCommitmentsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Commitments [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherCommitmentsLineItems" xlink:label="us-gaap_OtherCommitmentsLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsLineItems" xlink:to="us-gaap_OtherCommitmentsLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherCommitmentsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Other Commitments [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ContractualObligation" xlink:label="us-gaap_ContractualObligation" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractualObligation" xlink:to="us-gaap_ContractualObligation_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractualObligation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Contractual Obligation </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ContractualObligation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Commitments to purchase capital assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxContingencyTable" xlink:label="us-gaap_IncomeTaxContingencyTable" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxContingencyTable" xlink:to="us-gaap_IncomeTaxContingencyTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxContingencyTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Income Tax Contingency [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxContingencyLineItems" xlink:label="us-gaap_IncomeTaxContingencyLineItems" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxContingencyLineItems" xlink:to="us-gaap_IncomeTaxContingencyLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxContingencyLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Income Tax Contingency [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:to="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Effective Income Tax Rate Reconciliation, Percent </link:label>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Effective income tax rate </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionStartDateAxis" xlink:label="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionStartDateAxis" xmlns="http://www.xbrl.org/2003/linkbase"> </link:loc>
<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionStartDateAxis" xlink:to="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionStartDateAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase"> </link:labelArc>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionStartDateAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase"> Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis] </link:label>
</link:labelLink>
</linkbase>

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