You can go ahead with your current assignment as it is one of functions in HR. You can not expect job in HR strategy formulation as soon as you complete your masters in HR. This is your first step in HR, learn as much as possible and do well in that.
You can do many things Time office and learn many things like Attrition analysis, Absenteeism, Attendance Awards, Implementing new system for Time office, Leave Management, Policy for Time Office, Daily Manpower strength details projection etc.
Later, you can request your management or HR team to enlarge your job with some other additional responsibilities like Manpower Planning, Recruitment, T&D etc
6th July 2013 From India, Madurai