Payroll Specialist - Employee Payroll & Tax Compliance
Job Description: Payroll Specialist
The Payroll Specialist is responsible for managing and processing the company’s employee payroll, ensuring accuracy, timeliness, and compliance with all applicable tax laws and regulations. This role involves calculating salaries, bonuses, deductions, and benefits, maintaining accurate payroll records, and addressing employee inquiries regarding payroll matters. The ideal candidate will have strong attention to detail, knowledge of payroll software, and the ability to ensure compliance with tax laws.
Key Responsibilities
- Payroll Processing: Manage the preparation, processing, and distribution of employee payroll for all departments, ensuring timely and accurate payment.
- Tax Compliance: Ensure compliance with federal, state, and local tax laws, including calculating tax withholdings, preparing tax filings, and ensuring timely submission of payroll taxes.
- Benefits Administration: Process employee benefits such as health insurance, retirement contributions, and paid time off, ensuring they are correctly reflected in payroll calculations.
- Record Keeping: Maintain accurate and up-to-date payroll records, including salary changes, deductions, and employee information.
- Employee Inquiries: Address payroll-related inquiries from employees, providing accurate information on deductions, payments, and payroll policies.
- Payroll Reporting: Generate regular payroll reports for management, including summaries of payroll expenses and deductions, and assist with audits as needed.
- Compliance & Updates: Stay updated on changes in tax laws, regulations, and payroll best practices to ensure compliance and avoid penalties.
- System Management: Maintain and update payroll software to reflect changes in compensation, benefits, or tax regulations.
- Payroll Reconciliation: Reconcile payroll accounts and resolve discrepancies in payroll records or financial statements.
Skills Required
- Payroll Knowledge: In-depth knowledge of payroll processes, including salary calculations, deductions, bonuses, and benefits administration.
- Tax Compliance: Strong understanding of tax regulations and the ability to calculate and withhold payroll taxes accurately.
- Attention to Detail: High level of accuracy and attention to detail when processing payroll and handling sensitive employee data.
- Payroll Software: Proficiency in using payroll software, such as ADP, QuickBooks, or other payroll management tools.
- Data Management: Strong organizational skills to manage large volumes of payroll data and maintain accurate records.
- Communication Skills: Effective communication skills to interact with employees and management and respond to payroll-related inquiries.
- Problem-Solving: Ability to identify and resolve payroll discrepancies and errors quickly and efficiently.
- Confidentiality: A strong sense of confidentiality and integrity when handling payroll data and employee information.
- Time Management: Ability to meet deadlines and manage multiple tasks simultaneously in a fast-paced environment.
Requirements
- Experience: At least 2-3 years of experience in payroll processing or accounting, with a strong understanding of payroll systems and tax compliance.
- Education: A degree in Accounting, Finance, Business Administration, or a related field. Certification in payroll processing (e.g., Certified Payroll Professional - CPP) is a plus.
- Location: The position is based in Hyderabad, and candidates should be local or willing to relocate.
- Technical Skills: Familiarity with payroll software and accounting tools, as well as proficiency in Microsoft Excel or similar spreadsheet applications.
Job Types and Compensation
- Salary: ₹35,000.00 - ₹55,000.00 per month, based on experience and qualifications.
- Work Schedule: Full-time, Monday to Friday.
- Benefits: Health insurance, paid time off, retirement plan, and professional development opportunities.
How to Apply
If you are a detail-oriented payroll professional with a strong understanding of payroll processing and tax compliance, we invite you to apply for this position. Please submit your updated resume along with a cover letter detailing your experience and qualifications for the role.
- Attach your resume and provide detailed experience in payroll management.
- Submit a cover letter explaining your interest in the Payroll Specialist role.
- Provide references or certifications (if available) to support your application.
Conclusion
The Payroll Specialist position offers an exciting opportunity to contribute to a company’s financial operations while ensuring accurate and timely payroll processing. If you have the required experience and expertise, we encourage you to apply and be a key player in our team.