Job Description
Company Description
FOLKS was founded in Montreal in 2012, and has since opened offices in Toronto, Bogotá, Saguenay, and Mumbai. Our four studios have been designed to meet the needs of our clients, expand our roster of artists, help train the next generation, and provide a better environment for our artists.
This ecosystem offers you the best of two worlds—tight-knit teams for personalized service and human-scale collaboration and the strength of a flexible network that leverages the specialties of each studio to deliver breathtaking results.
There’s no assembly line work here. We nurture the creativity of our artists, who are among the most talented in the industry, and from concept to finished product, we focus all our attention on making your vision a reality. Our diverse origins give our creations that little extra something special.
More recently, in an effort to continue providing our clients with specialized expertise, in 2020, FOLKS became a member of the Pitch Black Company, which brings together the FuseFX, RSP, El Ranchito and FOLKS studios and has more than 1,400 visual effects artists worldwide.
Job Description
As a Payroll and Compliance Specialist, your primary responsibility will be to ensure accurate and timely processing of employee payroll while ensuring compliance with all relevant laws, regulations, and company policies. You will play a critical role in managing payroll operations, maintaining employee records, and ensuring adherence to legal and regulatory requirements.
Key Responsibilities:
Payroll Processing:
Coordinate and execute end-to-end payroll processing for employees, ensuring accurate and timely payments.
Verify and validate payroll inputs such as timesheets, attendance records, deductions, reimbursements, and overtime.
Calculate and process payroll adjustments, bonuses, commissions, and other payroll-related payments.
Maintain employee payroll records, including changes in salary, promotions, terminations, and other relevant data.
Collaborate with the finance team to reconcile payroll-related accounts and resolve any discrepancies.
Timely and accurate filing of various returns, ETDS, Form 16, etc.
Ensuring Investment Declaration is submitted by all employees under tax bracket and documents are uploaded with time limits.
Preparing and submitting payroll taxes, social security contributions, and other statutory deductions to relevant authorities.
Staying up to date with changes in Indian payroll regulations and ensuring compliance.
Collating inputs and validating output of payroll reports.
Collating PF data and sending to consultant and following up till payment.
Be an enabler for any employee benefits that are introduced in the organisation.
Handle F&F calculations and pay out. Also send the F&F statement and experience letters to the exited employee.
Follow up with department managers and HOD’s on Comp Off pay outs, Food/Travel reimbursements, Loss of pay, etc for payroll inclusion.
Collaborating with external stakeholders, such as payroll consultant and HRIS vendor, on payroll-related matters.
Managing Sodexo meal pass. Coordination with the vendor for pay-out and disbursement of cards to employees.
Calculate amounts of deductions like PF, ESIC, Professional Tax, TDS, or other deduction.
Compliance Management:
Stay updated on national, state, and local labour laws, tax regulations, and statutory requirements related to payroll and employee compensation.
Ensure compliance with wage laws, overtime regulations, payroll tax obligations, and other relevant legislation.
Prepare and submit accurate payroll tax filings, including quarterly and annual reports.
Conduct periodic audits of payroll records to ensure accuracy and compliance.
Respond to inquiries from employees, managers, and external stakeholders regarding payroll matters and compliance issues.
Ensure POSH compliance and trainings are conducted for all new hires.
Ensure employee background verifications are done as an when requested.
Vendor management
Ensuring Medical insurance coverage for all employees and dealing with the Mediclaim vendor.
Systems and Process Improvement:
Continuously evaluate and enhance payroll processes, systems, and procedures to increase efficiency, accuracy, and compliance.
Identify opportunities for automation and implement payroll software or tools to streamline processes.
Collaborate with HR, IT, and other departments to integrate payroll systems and data with HRIS system.
Develop and maintain payroll policies, procedures, and documentation to ensure consistency and compliance.
Participate in User acceptance testing and parallel run testing for India payroll on Ceridian Dayforce.
Creating timely updating Standard operating procedure (SOP).
Entering data into payroll and administrative databases and software programs.
Reporting and Analysis:
Prepare and distribute regular payroll reports to HR, finance, and management, including payroll summaries, tax reports, and employee earnings statements.
Analyse payroll data to identify trends, patterns, and anomalies, and provide insights to stakeholders.
Generate ad-hoc reports and data analysis as requested by management or regulatory authorities.
Qualifications
Bachelor's degree in accounting, finance, human resources, or a related field (or equivalent experience).
Proven experience as a payroll specialist or similar role, preferably in a complex payroll environment.
In-depth knowledge of payroll processes, tax regulations, and compliance requirements.
Strong understanding of labour laws, payroll tax calculations, and benefits administration.
Proficient in using payroll software and systems.
Excellent attention to detail and accuracy.
Strong analytical and problem-solving skills.
Ability to maintain confidentiality and handle sensitive information.
Effective communication and interpersonal skills.
Ability to work independently and manage multiple priorities in a deadline-driven environment.
Working knowledge and familiarity of an international HRIS (Workday, DayForce) is a plus.
Knowledge of Flexi Benefits.
Additional Information
Nothing in this job description restricts the Company’s right to assign or reassign duties and responsibilities to this job at any time. The Company prohibits discrimination in employment against otherwise qualified applicants because of a physical or mental disability and will make reasonable accommodations to enable qualified persons with known disabilities to perform the essential functions of their job consistent with applicable law. The Company will consider qualified applicants with criminal histories in a manner consistent with applicable law.
FOLKS was founded in Montreal in 2012, and has since opened offices in Toronto, Bogotá, Saguenay, and Mumbai. Our four studios have been designed to meet the needs of our clients, expand our roster of artists, help train the next generation, and provide a better environment for our artists.
This ecosystem offers you the best of two worlds—tight-knit teams for personalized service and human-scale collaboration and the strength of a flexible network that leverages the specialties of each studio to deliver breathtaking results.
There’s no assembly line work here. We nurture the creativity of our artists, who are among the most talented in the industry, and from concept to finished product, we focus all our attention on making your vision a reality. Our diverse origins give our creations that little extra something special.
More recently, in an effort to continue providing our clients with specialized expertise, in 2020, FOLKS became a member of the Pitch Black Company, which brings together the FuseFX, RSP, El Ranchito and FOLKS studios and has more than 1,400 visual effects artists worldwide.
Job Description
As a Payroll and Compliance Specialist, your primary responsibility will be to ensure accurate and timely processing of employee payroll while ensuring compliance with all relevant laws, regulations, and company policies. You will play a critical role in managing payroll operations, maintaining employee records, and ensuring adherence to legal and regulatory requirements.
Key Responsibilities:
Payroll Processing:
Coordinate and execute end-to-end payroll processing for employees, ensuring accurate and timely payments.
Verify and validate payroll inputs such as timesheets, attendance records, deductions, reimbursements, and overtime.
Calculate and process payroll adjustments, bonuses, commissions, and other payroll-related payments.
Maintain employee payroll records, including changes in salary, promotions, terminations, and other relevant data.
Collaborate with the finance team to reconcile payroll-related accounts and resolve any discrepancies.
Timely and accurate filing of various returns, ETDS, Form 16, etc.
Ensuring Investment Declaration is submitted by all employees under tax bracket and documents are uploaded with time limits.
Preparing and submitting payroll taxes, social security contributions, and other statutory deductions to relevant authorities.
Staying up to date with changes in Indian payroll regulations and ensuring compliance.
Collating inputs and validating output of payroll reports.
Collating PF data and sending to consultant and following up till payment.
Be an enabler for any employee benefits that are introduced in the organisation.
Handle F&F calculations and pay out. Also send the F&F statement and experience letters to the exited employee.
Follow up with department managers and HOD’s on Comp Off pay outs, Food/Travel reimbursements, Loss of pay, etc for payroll inclusion.
Collaborating with external stakeholders, such as payroll consultant and HRIS vendor, on payroll-related matters.
Managing Sodexo meal pass. Coordination with the vendor for pay-out and disbursement of cards to employees.
Calculate amounts of deductions like PF, ESIC, Professional Tax, TDS, or other deduction.
Compliance Management:
Stay updated on national, state, and local labour laws, tax regulations, and statutory requirements related to payroll and employee compensation.
Ensure compliance with wage laws, overtime regulations, payroll tax obligations, and other relevant legislation.
Prepare and submit accurate payroll tax filings, including quarterly and annual reports.
Conduct periodic audits of payroll records to ensure accuracy and compliance.
Respond to inquiries from employees, managers, and external stakeholders regarding payroll matters and compliance issues.
Ensure POSH compliance and trainings are conducted for all new hires.
Ensure employee background verifications are done as an when requested.
Vendor management
Ensuring Medical insurance coverage for all employees and dealing with the Mediclaim vendor.
Systems and Process Improvement:
Continuously evaluate and enhance payroll processes, systems, and procedures to increase efficiency, accuracy, and compliance.
Identify opportunities for automation and implement payroll software or tools to streamline processes.
Collaborate with HR, IT, and other departments to integrate payroll systems and data with HRIS system.
Develop and maintain payroll policies, procedures, and documentation to ensure consistency and compliance.
Participate in User acceptance testing and parallel run testing for India payroll on Ceridian Dayforce.
Creating timely updating Standard operating procedure (SOP).
Entering data into payroll and administrative databases and software programs.
Reporting and Analysis:
Prepare and distribute regular payroll reports to HR, finance, and management, including payroll summaries, tax reports, and employee earnings statements.
Analyse payroll data to identify trends, patterns, and anomalies, and provide insights to stakeholders.
Generate ad-hoc reports and data analysis as requested by management or regulatory authorities.
Qualifications
Bachelor's degree in accounting, finance, human resources, or a related field (or equivalent experience).
Proven experience as a payroll specialist or similar role, preferably in a complex payroll environment.
In-depth knowledge of payroll processes, tax regulations, and compliance requirements.
Strong understanding of labour laws, payroll tax calculations, and benefits administration.
Proficient in using payroll software and systems.
Excellent attention to detail and accuracy.
Strong analytical and problem-solving skills.
Ability to maintain confidentiality and handle sensitive information.
Effective communication and interpersonal skills.
Ability to work independently and manage multiple priorities in a deadline-driven environment.
Working knowledge and familiarity of an international HRIS (Workday, DayForce) is a plus.
Knowledge of Flexi Benefits.
Additional Information
Nothing in this job description restricts the Company’s right to assign or reassign duties and responsibilities to this job at any time. The Company prohibits discrimination in employment against otherwise qualified applicants because of a physical or mental disability and will make reasonable accommodations to enable qualified persons with known disabilities to perform the essential functions of their job consistent with applicable law. The Company will consider qualified applicants with criminal histories in a manner consistent with applicable law.
💡 Quick Summary
Seeking a career-building opportunity? The Payroll Compliance Specialist position is now open for candidates interested in the Accountant Jobs sector. This role in Mumbai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Accountant Jobs is a plus.
