Financial Controller

Job Tittle: Financial Controller

Location: Bangalore

Experience:3 to 5 (CA qualified)

Looking for immediate Joiners

Accounting and Payroll

• Set up of all basic processes and controls such as the Accounting process, Compliance process, Internal Controls structures for all key business processes .
• Preparation and maintenance of chart of accounts and accounting frameworks to the extent required to meet accounting and recording needs, statutory compliance needs and management reporting in a disciplined fashion along a defined process;
• Accounting process: conducting primary accounting processes that will enable transaction handling and recording in the books for all business transactions, namely, purchasing, revenue (income) accounting, billing, and receivables (amounts due), payroll accounting and other expenses accounting.
• Maintaining Assets File

• Transaction processing:

• Monitoring Day Book including verification of purchase orders, invoices, Goods Received Note/ service receipt confirmation and voucher verification before any payments are processed;

• Formalizing payment cycles using calendars to maximize the utilization of credit terms and match the credit terms to the revenue realization terms;
• Reviewing discounts and possible benefits for accelerated payments and affecting the same;
• Operation of bank accounts
• Verification and reconciliation of inward remittances and customer balances as well as vendor payments and outstanding balances;
• Receivables management; and

• Liaison with the concerned parties in case of issues identified in the above processes.

• Monthly accounting activities based on best practices relating to preparation of statements of profit and loss and balance sheet after provision for month end closures and other entries in line. This includes performing bank reconciliation statements by reconciling the inward remittances, payments made with the bank statements . (Including forex Gain n Loss )

• Payroll processing :

• Preparation of salary register
• Processing the payroll including payment to all employees
• Calculation of tax deducted at source ("TDS") for each employee
• Obtain tax declarations from the employees for TDS
• Verification of proofs at end of the year supporting the tax declarations
• Provide Certificate of TDS (Form 16) for employees
• Employee query resolution related to payroll and reimbursements

• Generate the monthly pay slips

• Compliance Services

Conducting compliances of the organization and periodically reviewed compliance calendar with necessary follow ups and reporting to ensure the calendar is adhered to and minimizing cases of non-compliance, Tax Compliances Services under Income Tax Act and Goods and Services Tax ("GST"):

• Filing of monthly returns in Form GSTR-1;
• Filing of monthly returns in Form GSTR-2, if any;
• Monthly return in GSTR-3/3B and tax payments;
• Other returns such as TDS return, as and when notified;
• TDS Compliances:
• Review of TDS rates on a periodic basis to ensure TDS is done as per the requirements under the Income Tax Act and Rules thereunder;
• Transaction level review and ensuring TDS rates are properly being applied by the Finance team - especially for transactions of a new nature that may be entered into from time to time;
• Finalization of TDS liabilities on a monthly basis and provide advice on the same to enable payments;
• Filing of TDS returns on a quarterly basis within the deadlines;
• Support in payment of TDS liability within the due dates; and
• Provide Certificate of TDS (Form 16A) to non-employees.
• Attending & addressing any notices, if any in stipulated time frame.

EPR Compliances as required by the CPCB :

• Review of EPR guideline on a periodic basis to ensure compliance is done as per the requirements Defined by CPCB;
• Transaction level review and ensuring filing done monthly , quarterly & annually as per the requirements.
• Monitor costing is factoring EPR fees for non-registered vendors.

Any other compliances as may be required , for example : reports of diesel consumption to IOCL … etc …

• Labour Law Compliances

Labour Law Compliances as applicable for operating in Karnataka: Monthly Compliance Filing periodical returns under Labour Compliance as applicable in Karnataka under the compliances listed below:

• Filing of monthly returns of professional tax and payment of the same
• Filing of monthly return of Employees' State Insurance ("ESI")
• Filing of monthly returns of Provident Fund which includes computing monthly contribution and payment;

• Secretarial Compliance

• To prepare a master file of all the statutory records of the Company from incorporation to date along with all mandatory documents

• Drafting and vetting of notices, agendas, and minutes of board of directors' meetings, annual general meetings ("AGM"), extra-ordinary general meetings ("EGM") and annual filings and to ensure the documentation is properly maintained as per the regulations of the Companies Act including the review of forms filed previously with respect to the above meetings. In case of any discrepancies, rectify the same to the extent possible.
• Compliance Calendar: The applicable compliances under the Companies Act shall be identified and the due dates along with the necessary form filing details shall be captured in a comprehensive calendar.
• Regular Compliances:
• Prepare and circulate notices for board meetings, AGM, EGM etc., as per the process specified under

the Companies Act.

• Prepare, maintain, and update the mandatory registers under the Companies Act.
• Attendance registers for meetings and such other registers mandated by the Companies Act at later stage.
• Ensuring compliance of disclosure and qualification requirements of the directors.
• Advisory for compliance with Companies Act provisions in relation to related party transactions, intercompany transactions and transactions with directors and interested parties.

• Filing of other statutory returns with Registrar of Companies

• Annual Compliance

• DIR-3 KYC- Director KYC submission for DIN holders by 31st March of every year;

• Form MBP-1- Every director in first board meeting shall disclose interest in other entities;
• Form DIR-8-Every director in first board meeting shall file with the Company disclosure of non-

a. disqualification;

• Form-DPT-3 - Return of deposit or particulars not considered as deposit;
• Form-MSME-1 - All MSMEs should file with the registrar for outstanding payments to Micro or Small Enterprises:
• Form- AOC-4 - Filing of financial statements including cash flow statement;
• Form- MGT-7 – Filing of annual return;
• ADT-1 – Filing of appointment of statutory auditor;
• Form FLA under RBI Guidelines;
• Other annual filings including annual audited financial statements, annual returns; and
• Preparation of director report and annual report to shareholders.

• Insurances for stock , factory , etc ….

• EXIM Compliance :

• Source & maintaining all Exim certificates like Star Licence ; EPCG & Advance Licenses.

• Ensure timely closing of the same.

• Basic Reporting Operations:

• Make yearly Budgets & Monitor the same. Report the variances.

• Management Information Systems, assessment and reviews for top managements to enable key decision making and review of identified key performance factors. This involves initial round of discussions on planning business, setting key objectives, and designing ways to measure the same to achieve this objective, with due inputs from the management of the Company.
• Strategic discussions with top management on the 2nd Saturday of every month on the MIS report for monitoring and discussion on key performance factors, working capital, key liabilities, fund requirements, plan versus actuals, etc.
• Preparation and discussion of Operations report on 2nd Saturday of every month. Cost Management Focused. – Consumption , Others …
• Key internal transaction closures shall be made with management discussions on a monthly basis to close out key issues on an ongoing basis .
• Monthly reporting of financial statements and reconciliations .

• Weekly CFS for Payment Planning.

• Bank / FI Relations :

• Interact with bank for raising debt , paper work related to same.

• Monthly , quarterly & yearly documentation work as required by Bank.

• EXIM related entries for BOE & BOL.

• Team Building :

• Talent acquisition and retention

• Team training and development

• Any other task as assigned by Management.

ROADMAP For CFY / Targets : Q1 : Implementation of NEW ERP including document Manager & the above KRA.Q2 : Create Cost Management Process & Cost Control Strategy. à Consumption report , BOM level integration. àThis can be considered while we have clarity by JAN. Q4: Evaluate & Report the Current Cost + Design strategy for …

• Capital structure optimization
• Investment analysis and ROI evaluation
• Optimize working capital (inventory, receivables, payables).

CFY2: Q1 : Budgets Implementation KPI for CY :

• Road Map Implemented in time.
• No Penalties
• No Account Freeze

Job Type: Full-time

Pay: ₹654, ₹1,500,000.00 per year

Experience:

• CA Qualified: 3 years (Preferred)
• Financial Controller: 3 years (Preferred)

Work Location: In person