Specialist - Payroll

About PhonePe: Phonepe is the leader in the UPI based payments in India with a market share of more than 47%. Our goal is to make payments so easy, safe and universally accepted that people never feel the need to carry cash or cards again. We believe India is at the cusp of a new mobile revolution, which will change the way we manage our money on the go. We see ourselves facilitating this change, through technology and dogged customer centricity. PhonePe went live in 2016 and till date has got over 600 mn registered users and 38 mn merchants. PhonePe has forayed into diverse areas with its offerings in almost all fintech segments including insurance, lending, mutual funds and stock broking. In 2024, PhonePe also launched Indus AppStore - its own native Android-based mobile app store built for Indian consumers providing app discovery and content in 12 Indian languages.

Role Objective

Seeking a proactive and detail-oriented professional payroll specialist to join our HR team in Bangalore. The role will report into the Lead - Payroll and Benefits Administration and will be responsible for managing the end to end payroll processing for 30,000+ salesforce ensuring seamless employee experience.

Key Responsibilities:

1. Payroll Administration

• Manage end-to-end payroll processing for the salesforce for ensuring accurate and timely payment of salaries in compliance with local regulations and company policies.
• Review and update salary structure components as per the change requirements.
• Collaborate with internal/ external stakeholders to collate and process payroll inputs.
• Validate various payouts and support bank transfer process
• Oversee the Payroll Portal for timely publishing of payslips, related documents for the employees. TDS sheets, Form 16, and loan deduction slips.
• Manage investment declaration and proof collection processes.
• Coordinate with the payroll partner and payroll audit partner for timely deliverables and completion of the various payroll deliverables and reports.
• Prepare and upload the payroll related employee letters as required.
• Resolve payroll related tickets from employees ensuring timely resolution.
• Investigate and resolve payroll discrepancies and reconcile payables vs receivables.
• Take care of other related processes like salary advance, data for actuarial valuation of the liabilities, etc.
  
  2. Payroll and Audit Compliance

• Ensure adherence to statutory deductions and remittances. Coordinate with Finance for fund disbursement and challan payments.
• Monitor compliance deadlines for filings and returns. Liaise with internal or external teams for the same as required.
• Maintain up-to-date knowledge payroll and taxation related laws and regulations.
• Ensure complete documentation and audit trails for audit readiness.
• Support audits and inspections from statutory authorities. Prepare evidence related to audit queries, tax notices and related issues as required.
  
  3. Vendor Coordination:

• Ensure timely deliveries of various outputs and reports from the vendor partners as per the agreed timelines.
• Track vendor SLA adherence and escalate any delays or inaccuracies.
• Coordinating with PhonePe internal teams for timely release of PR/PO and payout of Vendor Invoices.

4.Process Documentation, Process Improvement and Reporting

• Develop and update SOPs, Checklists, Trackers, Dashboards, etc. for payroll processes and related compliances.
• Identify opportunities for workflow automation, accuracy improvements, and turnaround time reduction.
• Collaborate with cross-functional teams to align and reconcile payroll records with other HR, finance, and compliance processes.
• Support the HR team members with other HR related activities.

Capabilities & Requirements:

• Masters degree in HR, Commerce, Business Administration, or a related field.
• 35 years of experience in end-to-end payroll processing and payroll compliances.
• Strong understanding of Indian payroll laws and statutory deductions. Exposure to piece-rate payroll is a plus.
• Strong analytical skills, attention to detail, and process orientation. Proficiency in MS Excel
• Excellent stakeholder communication and coordination skills.