Finance Payroll Specialist

Job Summary

The Payroll Finance role is responsible for managing payroll accounting, ensuring accurate salary processing, statutory compliance, and reconciliation of payroll-related financial records. The role works closely with HR, finance, and external vendors to ensure timely payroll processing and compliance with regulatory requirements.

Key Responsibilities

1. Payroll Processing & Validation

 Review monthly payroll inputs including new joiners, exits, salary revisions, bonuses, and deductions.

 Validate payroll reports received from HR / payroll vendors before processing payments.

 Ensure timely salary disbursement to employees.

1. Payroll Accounting

 Pass monthly payroll accounting entries in ERP (salary expense, provisions, reversals).

 Reconcile payroll GL accounts including salary payable, reimbursements, and provisions.

 Maintain payroll cost center allocations and ensure accurate financial reporting.

1. Statutory Compliance

 Ensure compliance with statutory deductions such as PF, ESI, PT, TDS on salaries, and labour law requirements.

 Verify statutory payments and returns filed by payroll vendors.

 Coordinate during audits and regulatory reviews.

1. Reconciliation & Controls

 Perform reconciliation of payroll registers with bank payouts and accounting records.

 Reconcile statutory liabilities and ensure timely payments.

 Strengthen payroll internal controls and audit readiness.

1. Payroll Reporting & MIS

 Prepare payroll MIS reports including salary cost analysis, headcount cost, and variance analysis.

 Support finance leadership with payroll cost forecasts and budgeting.

1. Audit & Compliance Support

 Support internal audit, statutory audit, and tax audits relating to payroll.

 Maintain documentation for payroll workings, approvals, and reconciliations.

1. Stakeholder Coordination

 Work closely with HR, payroll vendors, and finance teams to resolve payroll issues.

 Handle employee payroll queries related to tax, deductions, and salary payments.

Key Skills & Competencies

 Strong understanding of payroll accounting and statutory compliance

 Knowledge of TDS on salaries, PF, ESI, gratuity, leave encashment accounting

 Experience with ERP systems (SAP / Oracle / PeopleStrong / similar payroll tools)

 Strong reconciliation and analytical skills

 Attention to detail and ability to handle confidential information

Qualifications

 CA Inter / CMA / MBA (Finance) / B.Com

 2–6 years of experience in payroll finance, payroll accounting, or finance operations

Preferred Experience

 Experience in shared services or large employee payroll environments

 Exposure to payroll vendors and HRMS systems

 Experience handling audit and compliance for payroll