Financial Analyst

Position Overview:

We seek a highly skilled Financial Analyst – Payroll to process and manage payroll for our India-based employees. The ideal candidate will possess deep expertise in Indian payroll processes, statutory compliances, and accounting practices. This role requires attention to detail, proficiency with payroll software, and the ability to maintain high standards of accuracy and confidentiality. You will collaborate closely with HR and other departments to ensure timely and correct employee compensation while adhering to statutory requirements.

Responsibilities:

• Accurately process payroll for India-based employees, ensuring timely payment of salaries, bonuses, and deductions.
• Ensure compliance with all Indian statutory requirements such as PF, ESI, professional tax, gratuity, income tax, and TDS.
• Review and complete payroll tax filings, handle employee income tax computation, and manage full-and-final settlements in line with state rules and statutes.
• Support internal and external audits by maintaining accurate payroll records and addressing discrepancies.
• Act as the first point of contact for payroll and benefits-related queries, addressing questions on salary, deductions, leave balances, and other payroll matters.
• Add new hires to payroll systems, process leavers’ final settlements, and collaborate with HR and payroll providers for system updates and reporting.
• Ensure payroll data accurately flows into the company’s financial statements, including timely updates in QuickBooks or Zoho.
• Prepare payroll MIS, weekly cost-saving reports, and resource mapping data, highlighting risks and opportunities.
• Adhere to Indian labor laws and statutory requirements, identifying and mitigating shortfalls or risks.
• Identify and implement enhancements in payroll processes to improve accuracy and efficiency.

Skills:

• Outstanding organizational skills with the ability to handle sensitive and confidential information with integrity.
• Strong interpersonal skills to effectively address payroll-related inquiries from employees and stakeholders.
• Ability to identify, investigate, and resolve payroll discrepancies independently.
• Familiarity with preparing for and supporting internal and external payroll audits.

Qualifications:

• Strong understanding of India-specific payroll processes, including statutory compliances like PF, ESI, TDS, and gratuity.
• Basic accounting skills, including experience in payroll accounting and reconciliation.
• Hands-on experience with payroll systems (e.g., ADP, QuickBooks, Zoho) and proficiency in Microsoft Excel for payroll data management.

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Tagged as: QuickBooks, Tax