Curious About Payroll Executive Roles? Key HR Concepts You Need to Know

Please help me understand the job profile of payrolling. What HR concepts must a candidate necessarily know as a payroll executive?

Payroll Executive Job Responsibilities

Following are the Payroll Executive job responsibilities:

- Preparation of employee monthly attendance statements (monitoring attendance, leave records, late coming, etc.).
- Preparation of salary statements for submission to F&A and coordination for the disbursement of salaries on time.
- Preparation of payslips.
- Managing special situations like maternity or sickness pay.
- Calculation and payment of termination payments (resignation/retirement/redundancy).
- Ensuring the receipt of all supporting documents related to full and final settlement and preparing the same.
- Payment and reconciliation of bonus payments.
- Calculation, payment, and reconciliation of payroll tax and group tax.
- Administration, calculation, payment, and reconciliation of all superannuation contributions.
- Preparation and reconciliation of monthly General Ledger wages journals.
- Preparation and reconciliation of payment summaries.
- Ensuring prompt maintenance of staff records at all times, including archiving and filing.
- Liaising with HR staff on appointments, terminations, remuneration, conditions of service, and other relevant matters.
- Workers' compensation coordination, i.e., processing, monitoring, and filing all claims and preparing payments.

Regards,
Narayan

[Email Removed For Privacy Reasons]

Narayan has given a complete description. You may need to work in the HR module of the ERP system used in the firm, such as SAP or Oracle, to extract employee data for salaries. Attendance will have its own software, such as Pumpkin. You will receive preliminary training to work on this software. It's not complicated to work with them, but it requires concentration. The scope of human error remains very high. Try to read about them to understand how they work.

Please let me know if you need any further assistance.

Thank you.

Key Responsibilities of a Payroll Executive

As a payroll executive, you need to focus on the following details:

1. Maintain employee MIS/HRIS, including Employee Code, Employee Name, Address, Contact Number, Date of Joining, Date of Confirmation, Monthly Package, Yearly Package, PAN Number, and Date of Birth.

2. Maintain data in software or Excel.

3. Maintain attendance records of all employees, including Paid Leave, Unpaid Leave, Sick Leave, and Maternity Leave.

4. Maintain the salary file of employees, including all breakdowns.

5. Maintain an individual tax calculation file for all employees.

6. Calculate salaries based on employees' present days and working days.

7. Calculate deductions such as PF, ESIC, Professional Tax, TDS, or any other deduction.

8. Verify amounts with present days and total working days of the company.

9. Ensure receipt of all supporting documents related to Full & Final Settlement.

10. Payment and reconciliation of bonus payments.

11. Administration, calculation, payment, and reconciliation of all superannuation contributions like Retirement benefits, PF, ESIC, and others.

12. Preparation and reconciliation of payment summaries.

13. Generate salary slips.

14. Prepare an audit file of salaries.

Kind Regards,

Poonam Patel