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We are currently looking for a senior executive to join our Finance India team in the Pune, India office.
POSITION: SENIOR FINANCE EXECUTIVE
Location: Pune, India
Experience: 2-4 years
Ensures payroll is processed with speed and accuracy. Serves as liaison to employees and with third-party payroll vendors to ensure that payroll processing accurately reflects company specific pay policies. Audits employee pay records and reconciles totals by department, location, country, etc. Coordinates third-party payroll system implementations and upgrades. Interprets pay policies (vacation, LOA, disability, workers’ compensation, union contracts, government regulations, withholding exemptions, etc.) and ensures that appropriate amounts/deductions are calculated and applied to the various accounts correctly. Verifies compliance with federal and state payroll requirements; stays current with changes in the law. May assist with audits of internal records, workers’ compensation, tax filings and related documentation. Documents payroll processes and procedures; may train payroll department staff. May back up those who perform specialized tasks or activities such as stock option exercises, SEC document filing, or sales commission calculation reviews.
- Responsible for conducting Payroll induction & coordination with bank for account-opening formalities of new employees.
- Responsible for collecting data from new employees for salary processing – Bank details, UAN details, Provided Fund (PF) details, PAN card details, Aadhaar card details and other personal information of new employees.
- Updating new employees about web services—ESS (Employee Shared Services)—for informing new employees about investment declaration, actual investment proof submission, etc.
- Guiding new employees about the transfer of PF from previous company to current company, coordinating with PF consultant for any new notification or for any clarification about UAN.
- Checking UAN or assigning new PF & UAN to new employees on PF Portal.
- Coordinating with HR to order new Sodexo Cards and placing the order on the Sodexo portal before the end of the month.
- Coordinating with HR for addition or deletion of Sodexo Card reloads and accordingly placing the order before the end of the month on Sodexo portal.
- Checking of monthly payroll input and updating the same on Ascent Payroll software.
- Preparing head count reconciliation & head count summary, monthly & quarterly
- Processing full & final settlement of exiting employees in Ascent Payroll. Coordinating with them for submission of investment proof documents, and sending full and final settlement to their personal email IDs.
- Calculating gratuity of employees while processing full & final settlement as gratuity is a part of CTC and is paid even if the employee leaves before completing 5 years.
- Once salary is processed, preparing variation report for checking variance in the salary processed and providing reasons for the variation.
- Once salary is processed, preparing & checking Income Tax Report and payment of salary income tax.
- Once salary is processed, coordinating with Profession Tax Consultant for generating Profession Tax Challan monthly and issuing cheque.
- Once salary is processed, generating PF challan on PF portal and processing the same. New process is introduced for challan generation from 1st Jan 2017 and we have not involved PF consultant in this since the process is online. This process is time consuming.
- We do actuarial valuation of gratuity plan as per accounting standard AS15 every quarter from outside actuary consultant so coordinating with the consultant, sending the data in their format and getting valuation done on day 1 or day 2 of quarter close.
- Preparing monthly Payroll Summary.
- Once salary is processed, generating 2 bank files as per the format given by Axis Bank. Converting Excel bank file in .txt format on Axis bank portal and making it ready to upload on Axis Bank portal. Printing of covering letter and salary details of non-Axis bank employees. Preparing cheque in the name of Axis Bank and sending soft copy to the bank for uploading them for salary credit.
- Checking the salary increment data and uploading/processing the same in Ascent payroll software.
- Checking & calculating variable payout data as per the % of payout in Ascent payroll software.
- Coordinating and checking of actual investment proofs. Medical bills/ Leave Travel claims of all the employees. Coordinating with pay-square vendor for arranging help desk for collection & preliminary checking of each & every documents received from employees every year in Feb. Sending followup emails to employees for submission of correct documents for income tax benefit.
- Uploading Income Tax report and payslips every month on ESS (Employee Shared Services) portal on the date of salary credit.
- Guiding employees on income tax savings schemes. Resolving employee queries on monthly payslips, income tax reports.
- Checking & preparing salary TDS return and filing the same every quarter.
- Checking & Filling MLWF (Maharashtra Labour Welfare Fund) Challan cum return in June-end & December-end.
- Checking & reviewing ESIC (Employee State Insurance Corporation) applicability.
- Checking & issuing Form 16 to all the employees, including to those who have left during the year.
- Once trading window is closed, checking the details of options exercised (India Employee) for the period, Getting ESOP Tax remittance from US if any, paying the tax to Income Tax department and updating the same in Ascent Payroll.
- Coordination with auditor for salary related reconciliations, providing sample documents to auditors.
- Preparing monthly Salary Journal Entries, preparing variable pay provision every quarter, preparing gratuity less than 5 years provision every quarter.
Audit, Tax & Transfer Pricing
- Coordination with tax consultant for Income Tax assessments.
- Coordination with tax consultant for Transfer Pricing assessments.
- Coordination with tax consultant for Transfer Pricing annual submission as well as Transfer Pricing Report.
- Preparing and submission of Monthly Progress Report and SOFTEX to STPI.
- Preparing audit schedules.
- Supervision of fixed assets addition as well as depreciation run.
- Preparing quarterly schedules (PBCs).
- Coordination with the auditors.
- Coordination with the company secretary.
- Looking after secretarial compliance (Annual Returns, RBI Annual Return, Directors Report, AGM, other return compliances).
- Coordinating Board Meetings—Drafting of the agenda, scheduling and ensuring all minutes/resolutions are signed off.
Send your resume and cover letter in MS Word, to email@example.com, and include the position in the subject line of the email.