Payroll Processing Associate

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Company Profile

One of the many ways that we aim to keep providing you with the best possible service is our continued investment in education and the growth of our people. We hire highly skilled professionals and continually train and keep them updated in the latest technologies.

Job Summary:

Payroll Processing Associate

Key Responsibilities:

• Payroll Management

  : Process monthly payroll for employees, ensuring timely and accurate payments.

• TDS Knowledge and Filing

  : Have a thorough understanding of

  TDS

  (Tax Deducted at Source) working, ensure correct deductions from employee salaries, file

  TDS returns

  , and issue

  Form 16

  to employees.

• Salary Components

  : Knowledge of various

  salary components

  and the ability to restructure salary packages during the

  salary revision cycle

  .

• Salary Revision Letter

  : Prepare

  salary revision letters

  for employees, ensuring clarity on new salary structures, benefits, and deductions during the salary revision process.

• Offer and Appointment Letters

  : Prepare and issue

  offer letters

  and

  appointment letters

  for new hires, ensuring accuracy in salary details, deductions, and statutory benefits.

• Accounting Entries

  : Ensure correct

  accounting entries

  for payroll processing, ensuring that all salary and statutory expenses are correctly recorded in the company’s financial system.

• Statutory Compliance

  : Ensure compliance with Indian labor laws, including

  PF (Provident Fund)

  ,

  ESI (Employee State Insurance)

  ,

  Professional Tax

  ,

  LWF (Labor Welfare Fund)

  , and other statutory deductions.

• Timely Payment of Statutory Dues

  : Ensure that all statutory dues, including

  TDS

  ,

  PF

  ,

  ESIC

  ,

  PT

  ,

  LWF

  , etc., are paid within the respective due dates, avoiding any penalties or compliance issues.

• Reconciliation

  : Perform

  periodic reconciliation

  between the

  salary register

  and

  accounting records

  to ensure accuracy and consistency in payroll data.

• Arrears and Adjustments

  : Process payroll

  arrears

  and adjustments in salary, including retroactive salary payments, bonuses, and other one-time payments.

• Payroll Reports

  : Generate and maintain payroll reports such as

  salary slips

  ,

  tax summaries

  ,

  reimbursement statements

  , and other relevant documents.

• Employee Benefits

  : Manage employee benefits like

  gratuity

  ,

  leave encashment

  , and other allowances, ensuring proper deductions and contributions.

• Salary Audit

  : Coordinate with external or internal auditors for

  salary audits

  and ensure the smooth provision of necessary documents and information required for audit processes.

• Employee Profile Creation

  : Ensure the creation and accurate entry of employee profiles in the company’s

  ERP system

  , maintaining up-to-date and complete records for each employee.

Required Qualifications

• B.Com

  or

  M.Com

  (or equivalent qualification).

• 3 to 4 years of experience

  in payroll processing, accounting, or finance, with hands-on experience in

  TDS

  ,

  PF

  ,

  ESIC

  ,

  Professional Tax

  , and other statutory compliance tasks.
• Strong understanding of

  salary components

  , the

  salary revision cycle

  , and experience with

  restructuring salary packages

  .
• Proficiency in

  MS Excel

  and payroll software.
• In-depth knowledge of

  statutory compliance

  related to

  TDS

  ,

  PF

  ,

  ESI

  ,

  LWF

  , and

  other statutory deductions

  .
• Strong attention to detail with the ability to handle confidential employee data.
• Good communication skills to interact with employees and resolve payroll-related queries.

Preferred

• Experience in

  salary audits

  ,

  Form 16

  issuance, and reconciliation of payroll with

  accounting records

  .
• Prior experience in creating and maintaining

  employee profiles

  in

  ERP systems

  .