Payroll Specialist

3 hours ago

Mumbai Maharashtra India, Maharashtra Axis Capital Ltd. Full time

About the Role

Payroll Specialist will be responsible for managing end-to-end payroll operations with a strong focus on accuracy, compliance, and timely processing. This role requires deep knowledge of Indian payroll practices, Income Tax regulations, compensation structures, benefits administration, and equity-related calculations (ESOP/ESU). The ideal candidate will work closely with HR, Finance, and employees to ensure seamless payroll execution and high-quality service delivery.



Responsibilities

  • Prepare, validate, and process monthly payroll inputs, including new joiners, exits, variable pay, reimbursements, and adjustments.
  • Ensure accurate and timely payroll processing in line with statutory requirements and internal timelines.
  • Reconcile payroll outputs with Finance; ensure error-free salary disbursement.
  • Manage statutory compliance: PF, ESI, PT, TDS, Bonus, Gratuity, etc.
  • Process Full & Final settlements for exiting employees, including notice periods, leave encashment, recoveries, and tax implications.
  • Ensure timely coordination with HR, IT, and Finance for seamless offboarding and settlement closure.
  • Manage one-time payments such as joining bonuses, retention bonuses, ex gratia, incentives, and special payouts with correct tax treatment.
  • Stay updated on current Income Tax rules in India and apply them accurately in payroll computations.
  • Address employee queries related to investments, tax declarations, exemptions, salary structure, and payslips.
  • Educate employees on tax-saving options and compliance requirements.
  • Maintain accurate payroll records, dashboards, monthly MIS, and audit logs.


Qualifications

Bachelor’s degree in commerce, Finance, HR, or related field.


Experience

  • 4-10 years of hands-on experience in Compensation & Benefits and payroll roles.
  • Proven experience in end-to-end payroll, F&F settlements, and handling one-time payouts.
  • Strong knowledge of Indian payroll compliance and taxation.


Required Skills

  • Advanced Excel proficiency (pivot tables, lookups, reconciliations, formulas).
  • Strong understanding of Indian Income Tax, investment proofs, exemptions, and payroll taxation rules.
  • Expertise in C&B, pay structures, ESOP/ESU calculations, and benefits administration.
  • Hands-on experience with HRIS/payroll systems (SAP, Oracle).
  • High attention to detail with strong analytical and numerical accuracy.
  • Excellent communication skills with the ability to handle employee queries professionally.
  • Strong integrity and ability to maintain confidentiality.


We are an equal opportunity provider and offer employment to all job seekers including individuals with disabilities

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