Payroll Executive

Job Description:

Job Summary

The Payroll Executive is responsible for processing payroll accurately and on time, ensuring compliance with statutory regulations, maintaining employee payroll records, and handling employee queries related to salary, taxation, benefits, and deductions. The role requires strong attention to detail, knowledge of payroll processes, and coordination with HR, Finance, and employees.

Key Responsibilities

Payroll Processing

• Process monthly payroll for employees accurately and within defined timelines.
• Validate attendance, leave records, overtime, incentives, bonuses, reimbursements, and other payroll inputs.
• Verify new joiners, exits, salary revisions, promotions, and payroll-related updates.
• Ensure salary disbursement through banking channels.

Statutory Compliance

• Calculate and process statutory deductions such as:
• Provident Fund (PF)
• Employee State Insurance (ESI)
• Professional Tax (PT)
• Tax Deducted at Source (TDS)
• Labour Welfare Fund (LWF), where applicable
• Assist in preparation and filing of statutory returns.
• Ensure payroll processes comply with labour laws and company policies.

Taxation & Employee Support

• Collect and verify investment declarations and proofs.
• Support Form 16 generation and distribution.
• Address employee queries related to salary, tax deductions, reimbursements, and benefits.
• Assist employees in understanding payroll and taxation components.

Payroll Records & Reporting

• Maintain payroll master data and employee records.
• Prepare monthly payroll reports, MIS reports, reconciliation statements, and management reports.
• Conduct payroll reconciliations with finance and accounting records.
• Maintain confidentiality of employee and payroll information.

Final Settlement & Compliance

• Process Full and Final (F&F) settlements for resigned employees.
• Calculate notice pay, leave encashment, gratuity, bonus, and other separation benefits.
• Support internal and external audits related to payroll.

Required Qualifications

• Bachelor's Degree in Commerce, Finance, Accounting, Human Resources, or related field.

Experience

• 1 to 2 years of experience in payroll processing and statutory compliance.
• Experience handling payroll software such as SAP, Workday, ADP, GreytHR, Keka, Zoho Payroll, or similar systems.

Key Skills

• Payroll Processing
• PF, ESI, PT, TDS Compliance
• Income Tax Knowledge
• Full & Final Settlement
• Payroll Reconciliation
• Excel (VLOOKUP, Pivot Tables, XLOOKUP)
• HRMS/Payroll Software
• Attention to Detail
• Data Accuracy and Confidentiality
• Communication and Employee Query Handling

Preferred Competencies

• Strong analytical and problem-solving skills.
• Ability to work under strict payroll timelines.
• Good understanding of labour laws and payroll regulations.
• High level of integrity and confidentiality.
• Team collaboration and stakeholder management skills.

Key Performance Indicators (KPIs)

• Payroll accuracy rate
• Timely salary processing
• Compliance adherence
• Employee query resolution turnaround time
• Error-free statutory filings
• Audit compliance score