Payroll Specialist

Our Brand Purpose

To transform the life of the common man by improving their financial wellbeing

Job Purpose

The purpose of the role is to timely and accurately complete payroll in coordination with Head Payroll & Compliances monthly. The role incumbent is expected to work closely with finance and respective payroll partner for timely inputs and reports.

Key Job Responsibilities

Overall record management

• Maintain employee database monthly as per the salary structure and attendance and ensure confidentiality of the same
• Keeps abreast of the payroll processing system and changes in wage/tax laws, and applies changes as appropriate
• Prepare and process statements of payment
• Prepare and execute taxes and payment of employee benefits
• Prepares follow-up for Stop Payment requests, manual check requests, and associated system updates

Monthly payroll processing for all employees

• Process the payroll for all employees and share with the payroll partner on a monthly basis
• Verify, calculate and update salary sheet with regards to any amendment on a monthly basis
• Ensure confidentiality in processing salaries of all employees

Mange internal & external stakeholders

• Responds to questions regarding pay policies and procedures
• Establishes and maintains a positive working relationship with customers, both internal and external
• Answer employees' questions about payroll & payroll related laws
• Compile key operational payroll metrics & dashboards
• Prepare periodic payroll reconciliation and submit reports to the payroll manager for review

Payroll Management:

• Process accurate and timely payroll for all employees, including calculating salaries, deductions, bonuses, and incentives.
• Maintain and update employee records in payroll systems.
• Handle new employee onboarding and exits from a payroll perspective, including settlements.
• Prepare and review payroll reports for management and auditing purposes.

Knowledge, Skills & Attributes

Knowledge

• Payroll Processing Software
• Full & final settlement process
• PMS (performance management Systems) Promotions & Increment process
• Data Analysis - Variance analyst
• TDS
• Statutory laws & Compliance laws - PF, ESIC, PT, LWF, S&E.
• Labor Law

Skills

• Understanding of process related to employment cycle i.e. onboarding, promotion, lateral movement, physical employee movement and exiting
• Manage employee payroll and various portal management
• Hands on working knowledge on excel

Culture at Muthoot Pappachan Group

We do everything to gain and maintain the Trust of all the stakeholders and dont do anything to loose their Trust. Trust is the overarching Core Value, one which, our other values have been built.

Our Core Values

Integrity

• Asking oneself before saying, doing or deciding on anything, whether its passing the test of integrity
• No unethical shortcuts, to save time, money and energy
• Strict adherence to regulatory and other statutory bodies guidelines
• Transparency in all business deals
• Offer solutions to customers on the basis of their needs only
• Encourage people to highlight any practices that go against this core value

Collaboration

• Genuinely believe & treat the organization as your family
• Encourage people to build healthy professional relationship with members of other departments and functions
• Welcome feedback from other departments
• Encourage people from other departments to join for brainstorming sessions
• Look at the big picture (organization goals) rather than limiting the vision to the individual / department goal
• Help others to achieve their goals / tasks

Excellence

• Maddeningly pursue excellence
• Look for best outcomes before finalizing the approach
• Maintain a constructive and critical mindset to gauge & ensure quality
• Open for constructive feedback from others to refine the final output
• Benchmark against the best only, should not be basis convenience
• We should look for continuous improvement
• Recognize and appreciate, if we observe any superior performance
• Dont get settled for less at any cost display the go getter attitude
• Encourage people to stretch in order to achieve excellence

Building on the bedrock of Core Values, below are the other key constituents of the Culture Code”

• Honesty
• Humility
• Empathy
• Empowerment
• Agility
• Ownership
• Fresh Thinking & Continuous Renewal
• Inclusion
• Work-Life Balance

Role Requirements

2-4 years experience in payroll

Preferably MBA graduate