Payroll Manager

Payroll Manager

About:

- Responsible for managing all aspects of the payroll process for the company. This role requires ensuring accurate, timely, and compliant payroll processing while adhering to all applicable tax and labor laws.

- The Payroll Manager will collaborate closely with the HR, Finance, and Legal departments to ensure efficient payroll operations and will supervise payroll-related policies and systems

Duties and Responsibilities

Payroll Management:

- Oversee the end-to-end payroll process, ensuring timely and accurate payroll processing for all employees

- Ensure compliance with all relevant local, state, and federal laws and regulations, including tax, labor laws, and benefits-related requirements.

- Manage payroll changes, including new hires, terminations, promotions, and salary adjustments.

- Handle and resolve payroll discrepancies and inquiries from employees with flexibility to work additional hours as needed during payroll cycles

Compliance and Reporting:

- Ensure compliance with statutory payroll regulations such as Provident Fund (PF), Employee State Insurance (ESI), Professional Tax, Income tax, LWF and Gratuity

- File monthly, quarterly, and annual statutory payroll returns and reports as required by law (e.g., PF, TDS, PT, ESI).

- Conduct regular payroll audits to ensure accuracy and compliance

- Stay updated on changes in tax and labor laws affecting payroll

System & Process Optimization:

- Manage payroll software systems or other payroll software) and ensure efficient use

- Implement best practices for process improvement in payroll management, ensuring greater efficiency, accuracy, and compliance.

- Set up new tax jurisdictions and reconciliation of tax reports

- Review and validate all electronic timecards for approval prior to payroll processing

- Update payroll system to reflect any approved changes in employee pay, insurance coverage, deductions, and department transfers

- Manage timely payroll updates to reflect all new hires, terminations, employee transfers, bonuses, and other special payments

- Maintain accurate records of payroll transactions and reports

- Prepare reports for internal and external audits through compiling summaries of earnings, taxes, benefit deductions, leave, disability, and nontaxable wages as required

- Investigate and resolve any payroll discrepancies

- Ensure accurate and timely issue and other related filings

- Identifies opportunities to enhance the current process and implement controls to drive efficiency and streamline processes

- Communicate with all levels of the organization effectively by responding in a timely manner and providing assistance when needed

Employee Compensation & Benefits:

- Administer employee benefits such as PF, ESI, medical insurance, leave encashment, and bonus payouts.

- Handle calculation of overtime, shift differentials, and other payroll adjustments.

- Ensure proper computation and disbursement of salary, including deductions and allowances.

Stakeholder Communication:

- Collaborate with Finance team for monthly payroll reconciliation, financial reporting, and audits.

- Partner with HR and Legal teams to ensure consistent application of company policies.

- Communicate with external vendors, government bodies, and auditors as required.

Record Keeping & Data Security:

- Maintain and safeguard employee payroll records and data in compliance with data protection and confidentiality laws.

- Oversee proper documentation for payroll processing, taxes, and benefits.

- Implement strict security measures to protect sensitive payroll information.

Qualification And Experience:

1. MBA in HR with Minimum 7+ Years of Experience & a solid understanding of payroll laws and best practices. A background in accounting or finance, along with relevant experience, is typically preferred.

2. Knowledge of payroll practice, laws, and regulations across multiple states. International payroll experience is a plus

3. In-depth knowledge of labor laws, tax regulations, and statutory compliance related to payroll in Tamil Nadu.

4. Proven experience with payroll systems & Mastery over Excel is a plus

5. Excellent communications skills, confidentiality, and time management skills

6. Ability to excel in a fast paced and team environment and strong data and excel skills

7. Ability to handle sensitive information with discretion and maintain confidentiality.

8. Experience managing payroll for a company with [1000] number of employees.

9. Knowledge of payroll practices across multiple States & International.