Specialist - Compensation Benefits
Specialist - Compensation Benefits
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Job Description
About PhonePe Group:
PhonePe is Indias leading digital payments company with 50 crore 500 Million) registered users and 3.7 crore 37 Million) merchants covering over 99 of the postal codes across India. On the back of its leadership in digital payments PhonePe has expanded into financial services (Insurance Mutual Funds Stock Broking and Lending) as well as adjacent techenabled businesses such as Pincode for hyperlocal shopping and Indus App Store which is Indias first localized App Store. The PhonePe Group is a portfolio of businesses aligned with the companys vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.
Culture
At PhonePe we take extra care to make sure you give your best at work Everyday! And creating the right environment for you is just one of the things we do. We empower people and trust them to do the right thing. Here you own your work from start to finish right from day one. Being enthusiastic about tech is a big part of being at PhonePe. If you like building technology that impacts millions ideating with some of the best minds in the country and executing on your dreams with purpose and speed join us!
Job Summary:
We are seeking a detailoriented and analytical C&B specialist to manage the monthly processing of employee incentives ensuring accuracy compliance and efficiency. This role will also be responsible for providing payroll and ESOP (Employee Stock Ownership Plan) related data and documentation for audits as well as identifying and minimizing any potential leakages in incentive payouts.
Key Responsibilities:
- Incentive Processing:
- Manage the endtoend monthly processing of employee incentives including data collection calculation and disbursement.
- Collaborate with relevant stakeholders (e.g. Sales Business Development) to gather performance data and ensure accurate incentive calculations.
- Vet and validate payroll inputs received from HRBPs and Business teams ensuring accuracy and completeness.
- Implement and maintain robust checks and balances to ensure the accuracy and integrity of incentive payouts.
- Identify and resolve any discrepancies or issues related to incentive calculations.
- Continuously evaluate and improve incentive processes to enhance efficiency and effectiveness.
- Audit Support:
- Provide comprehensive payroll and ESOPrelated data and documentation to internal and external auditors.
- Respond to audit queries and requests in a timely and accurate manner.
- Ensure compliance with all applicable regulations and internal policies related to payroll and ESOPs.
- Leakage Control:
- Proactively identify and analyze potential leakages in incentive payouts.
- Develop and implement strategies to minimize leakages and ensure cost optimization.
- Monitor and track incentive payouts to identify any unusual patterns or trends.
- Other Responsibilities:
- Maintain accurate records of incentive payouts and related documentation.
- Stay uptodate on relevant laws regulations and best practices related to incentives payroll and ESOPs.
- Provide support to HR team members on incentiverelated queries and issues.
Qualifications:
- Bachelors degree in Finance Accounting Human Resources or a related field.
- 3 years of experience in incentive processing payroll administration or a similar role.
- Strong analytical and problemsolving skills.
- Proficiency in Microsoft Excel and other data analysis tools.
- Excellent attention to detail and accuracy.
- Knowledge of payroll regulations and ESOP guidelines.
- Ability to work independently and as part of a team.
- Strong communication and interpersonal skills.
Preferred Qualifications:
- Experience with HRIS and payroll systems.
- Familiarity with incentive compensation plan design.
- Experience working in a fastpaced highgrowth environment.
Benefits:
- Competitive salary and benefits package.
- Opportunity to work in a dynamic and challenging environment.
- Be part of a highperforming HR team.
PhonePe Full Time Employee Benefits (Not applicable for Intern or Contract Roles)
- Insurance Benefits Medical Insurance Critical Illness Insurance Accidental Insurance Life Insurance
- Wellness Program Employee Assistance Program Onsite Medical Center Emergency Support System
- Parental Support Maternity Benefit Paternity Benefit Program Adoption Assistance Program Daycare Support Program
- Mobility Benefits Relocation benefits Transfer Support Policy Travel Policy
- Retirement Benefits Employee PF Contribution Flexible PF Contribution Gratuity NPS Leave Encashment
- Other Benefits Higher Education Assistance Car Lease Salary Advance Policy
Working at PhonePe is a rewarding experience! Great people a work environment that thrives on creativity the opportunity to take on roles beyond a defined job description are just some of the reasons you should work with us. Read more about PhonePe on our blog.
Required Experience:
Unclear Seniority
Employment Type
Full Time
