Payroll Specialist

4 weeks ago


Mumbai, Maharashtra, India Lykis Limited Full time
Role:

Payroll Specialist
Desired Experience: 3

to 5 years
Desired Qualification:

Bachelor's degree in accounting, finance, or human resources preferred
Job Location:

Andheri (W), Mumbai
CTC Band:

5.5 LPA to 6 LPA

Key Responsibilities:

Payroll Processing:

Collect and verify employee attendance and other payroll data.
Calculate employee pay based on hours worked, salary, and other factors.
Process payroll deductions for taxes, health insurance, retirement plans, etc.
Generate and distribute paychecks or direct deposits.
Ensure timely and accurate payroll submissions.
Salary taxation
Manage the documentation process from hire-to-retire stage.
Explain the salary structure to new joiners.
Compensation Management:
Analyze market data to determine competitive salary ranges for different positions.
Develop and maintain company compensation structure, including base pay, bonuses, and incentives.
Conduct job evaluations to determine appropriate pay grades
Implement salary adjustments based on performance reviews and market trends

Compliance:

Stay updated on federal, state, and local payroll regulations
Ensure compliance with all payroll tax laws and reporting requirements
Monitor for payroll discrepancies and address issues promptly

Record Keeping:

Maintain accurate employee payroll records, including personal information, time worked, deductions, and benefits
Generate and file necessary payroll reports for internal and external stakeholders

Employee Support:

Respond to employee questions regarding paychecks, deductions, and benefits
Resolve payroll-related issues and discrepancies
Provide guidance on payroll policies and procedures

Required Skills:

Hands-on operational experience on Spine NX software is desirable.
Strong analytical and problem-solving skills
Excellent attention to detail and accuracy
Proficiency with payroll software and HR systems
Understanding of payroll tax laws and regulations
Strong communication and interpersonal skills to interact with employees and other departments
Experience with data entry and reporting

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