Payroll Manager

Position Summary

We are seeking an experienced and detail-oriented Payroll Manager to manage end-to-end payroll operations for a group of companies under a leading Stock Broking and Financial Services organization. The role will be responsible for ensuring accurate and timely salary processing, statutory compliances, payroll audits, employee reimbursements, taxation, and payroll governance across multiple legal entities.

The ideal candidate should possess strong knowledge of payroll laws, labor compliance, taxation, and payroll software systems, with the ability to manage large employee populations across different business units.

Key Responsibilities

Payroll Operations Management

• Manage end-to-end monthly payroll processing for multiple group companies.
• Ensure timely and accurate salary disbursement, full and final settlements, incentives, bonus, variable pay, and arrears processing.
• Validate payroll inputs including attendance, leaves, overtime, incentives, reimbursements, deductions, and employee master data.
• Process payroll for new joiners, transfers, promotions, resignations, and terminations.
• Ensure payroll accuracy and maintain confidentiality of employee compensation data.

Statutory Compliance & Taxation

• Ensure compliance with all statutory requirements including:

• Provident Fund (PF)

• Employee State Insurance (ESIC)

• Professional Tax (PT)

• Labour Welfare Fund (LWF)

• TDS on Salaries

• Gratuity and Bonus regulations

• Manage payroll-related audits and statutory inspections.

• Ensure timely filing of statutory returns and payment of dues.

• Handle Form 16 generation and annual tax computations.

Payroll Accounting & Reconciliation

• Coordinate with Finance department for payroll accounting entries.
• Reconcile payroll reports, statutory deductions, and salary payouts.
• Monitor payroll costs and provide management reports.
• Maintain payroll records and support internal and external audits.

HRMS & Payroll System Management

• Manage payroll software and HRMS database.
• Ensure data accuracy, system updates, and payroll process improvements.
• Coordinate with payroll vendors and software service providers when required.
• Implement automation initiatives to enhance payroll efficiency.

Employee Query Management

• Resolve employee payroll-related queries regarding salary, taxation, reimbursements, and deductions.
• Provide guidance on tax declarations and investment proofs.
• Maintain high service standards and employee satisfaction.

Reporting & MIS

• Generate monthly payroll reports, cost analysis, and headcount reports.
• Prepare management dashboards related to payroll expenses and compliance.
• Provide payroll analytics and recommendations to leadership.

Team Management

• Lead and mentor payroll executives and payroll operations team.
• Establish payroll controls, SOPs, and compliance frameworks.
• Drive process improvements and best practices across group companies.

Key Performance Indicators (KPIs)

• 100% accurate and timely payroll processing.
• Zero payroll compliance penalties.
• Timely statutory filings and payments.
• Payroll closure within defined timelines.
• Employee query resolution within TAT.
• Successful completion of payroll audits.
• Payroll process automation and efficiency improvements.
• Employee satisfaction on payroll services.

Qualifications

• Bachelor's Degree in Commerce, Finance, HR, or related field.
• MBA/PGDM in HR or Finance preferred.
• Payroll certification will be an added advantage.

Experience

• 8-12 years of payroll experience.
• Minimum 3-5 years in managerial role.
• Experience handling payroll for multiple legal entities/group companies.
• Experience in Financial Services, Stock Broking, NBFC, Banking, Wealth Management, or BFSI sector preferred.

Required Skills

• Strong knowledge of Indian Payroll Laws and Labor Compliance.
• Expertise in Income Tax, TDS, PF, ESIC, PT, and payroll accounting.
• Hands-on experience with HRMS and Payroll Software (SAP, Oracle, ZOHO, Darwin box, GreytHR, Keka, etc.).
• Strong analytical and reconciliation skills.
• Excellent stakeholder management and communication skills.
• High degree of accuracy, confidentiality, and attention to detail.
• Advanced Excel and MIS reporting capabilities.