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Executive - Payroll

1 month ago

Vadodara Gujarat, India Lucy Electric Full time

Job Advert

Internal Job Title**:Executive - Payroll**
Business**:Lucy Electric Manufacturing and Technologies India Pvt. Ltd.**
Location**:Halol, Vadodara, India**
Job Reference No**:3430**

**Job Purpose**

Responsible for ensuring that employees are paid accurately and on time. Maintaining Employee data, generating payroll reports, addressing discrepancies and resolving payroll related issues promptly.

**Job Context**
- Data entry
- Leave information
- Tax benefits and calculations
- Social Security Benefits
- Recognition Pay Working

**Key Accountabilities**:

- Maintaining accurate employee data for both Temp. and Permt. in the payroll system, including names, addresses, bank accounts, UAN, tax information, and pay rates
- Processing bonuses, allowances, and deductions according to company policies and employment contracts
- Preparing salary data including overtime, new employees detail, transfer, promotion, etc.
- Ensuring all calculations comply with local, state, and adhering legal and tax regulations and the draft and final sheet are as per the data shared
- Preparing comparison report and getting necessary approvals before processing for payroll
- Running payroll reports that summarize payroll activities and identify any discrepancies
- Staying updated on tax regulations and making necessary adjustments to payroll withholdings
- Generating reports for management on payroll costs and trends
- Responding to employee inquiries and concerns regarding their paychecks and deductions
- Maintaining confidentiality of sensitive employee data
- Preparing various pay roll related reports to finance
- Checking Statutory reports and submit it to finance
- Preparing data for Full & Final working for left employees and processing gratuity for eligible left employees
- Up-to-date record keeping meeting audit requirements
- Ensure timely sharing of Insurance data for GMC, GPA and GTL for addition and deletion
- Actively involved in payroll and insurance policy renewal process

**Dimensions**:

- The role will be based at LEMT, Vadodara India.
- If needed, the role will be extended for Nashik Plant too.

**Secondary Activities / Tasks**
- Arrange awareness sessions on social benefits, tax related topics
- To undertake business travel within India or abroad as and when required.

**Experience Knowledge & Skills**

Functional Competencies
- Knowledge and understanding of payroll
- Expertise in maintaining and updating employee data in the payroll system with accuracy and efficiency
- Communicating clearly and concisely with employees regarding their CTC structure, LTA, and deductions
- Adhere to compliance
Desirable
- Ability to work independently and manage multiple task specially during peak payroll cycles.
- Well-organized to meet deadlines.

Behavioural competencies
- Excellent written and oral communication skills in English
- Comfortable to travel for business requirement/need
- Able to work independently or within a team
- Maintain confidentiality
- Well organised
- Strategic thinker
- Proactive

Other Requirements
- B.Com/BBA/Diploma in Payroll Management
- Minimum 4-5 years of experience