Payroll Manager

Position Overview

We are seeking an experienced Payroll Manager to independently oversee and execute comprehensive payroll functions within our corporate setting. This role demands proficiency in all aspects of payroll processing, statutory adherence, payroll accounting, reconciliations, and employee payroll management, with a preference for those who manage payroll internally rather than through outsourced partners.

Key Duties and Responsibilities

• Manage the entire monthly payroll cycle from input collection to final salary issuance autonomously.
• Gather and verify payroll data including attendance records, leaves, overtime, incentives, commissions, deductions, reimbursements, new hires, resignations, salary adjustments, and other employee movements.
• Ensure timely and precise monthly payroll execution.
• Prepare and cross-check salary registers, payroll summaries, variance reports, and bank payment files.
• Conduct monthly payroll variance analyses and resolve any discrepancies prior to payroll disbursement.
• Calculate gross salaries, deductions, net pay, statutory contributions, and other payroll parameters accurately.
• Handle full-and-final settlements for departing employees, accommodating notice periods, leave encashments, recoveries, and additional applicable components.
• Accurately process arrears, salary revisions, bonuses, incentives, and ad hoc payments.
• Maintain compliance with all payroll-related statutory requirements, including PF, ESIC, Professional Tax, TDS, and Labour Welfare Fund.
• Prepare and submit statutory filings and challans within deadlines.
• Reconcile statutory liabilities and payments with payroll and accounting records.
• Stay informed on legislative updates and adjust payroll processes accordingly.
• Document and organize records meticulously to assist statutory audits and inspections.
• Collaborate closely with Finance/Accounts to ensure accurate payroll accounting and month-end closure.
• Reconcile payroll data with general ledger and rectify discrepancies.
• Prepare payroll accounting entries and supporting documentation.
• Support internal and external audits by providing necessary payroll information.
• Serve as the main contact for employee payroll inquiries and resolve any issues efficiently.
• Safeguard confidentiality of employee salary and personal data.
• Maintain up-to-date and accurate payroll records in HRMS systems.
• Develop and maintain payroll processes, controls, checklists, and SOPs to minimize errors and optimize operations.
• Lead and supervise the payroll team, promote accountability, and coordinate with HR, Finance, and Operations for timely inputs and approvals.
• Provide management reports and payroll MIS as needed.

Key Outcomes Expected

• Accurate and punctual payroll processing every month.
• Timely compliance with statutory payments and filings.
• Thorough payroll reconciliations without errors or recurring issues.
• Efficient full and final settlements.
• Accurate payroll accounting and smooth month-end closure.
• Well-maintained payroll documentation and audit readiness.
• Quick resolution of employee payroll queries ensuring professional service.
• Ongoing process improvements and payroll automation.

Candidate Profile

• 8 to 12 years of solid experience managing payroll independently, preferably in medium to large-sized corporate environments.
• Hands-on expertise running end-to-end payroll in-house rather than managing outsourced vendors.
• Comprehensive knowledge of Indian payroll laws, regulations, and statutory compliance.
• Proficiency with PF, ESIC, Professional Tax, TDS, Labour Welfare Fund, and other related compliances.
• Experience handling payroll for a large workforce with multiple salary components.
• Strong understanding of payroll accounting principles and reconciliation processes.
• Familiarity with HRMS/payroll systems and advanced Microsoft Excel skills.
• Excellent analytical abilities and attention to detail to identify inconsistencies.
• Strong organizational, problem-solving, communication, and stakeholder management skills.
• Ability to manage tight deadlines and maintain high confidentiality and integrity in handling sensitive information.