Lead - Compensation & Benefits
Lead - Compensation & Benefits
Employer Active
Job Alert
You will be updated with latest job alerts via email
Share
Job Alert
You will be updated with latest job alerts via email
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!
About: Phonepe is the leader in the UPI based payments in India with a market share of more than 40%. 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 crossed 5 bn transactions on its platform in 2019. In 2020 PhonePe forayed into diverse areas with the launch of insurance and super funds. Today we have a customer base of 300 mm users and 16 mm merchants live on our platform.
About: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 500 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 Androidbased mobile app store built for Indian consumers providing app discovery and content in 12 Indian languages.
Job Objective:
We are seeking a Lead Payroll & Benefits to own and manage the entire payroll and benefits operations for over 10000 full time employees. The responsibilities include guiding the team for accurate and timely processing of salary benefits and related payouts compliance with statutory and audit requirements and efficient management of payrollrelated processes for the multiple legal entities in the PhonePe group.
Responsibilities:
1. Payroll Management:
End to end ownership: Lead the strategy and execution of endtoend payroll operations ensuring timely and accurate salary disbursements for all employees. Ensure payroll data integrity and implement system upgrades and enhancements.
Ensure thorough documentation of payroll reports tax filings benefits deductions and other required reports maintaining compliance with regulatory requirements.
External Partner Management: Manage the external payroll partner ensuring adherence to predefined service levels. Establish robust governance and review mechanisms to ensure adherence to payroll processes with the necessary checks and balances.
US Payroll & Benefits Management: Oversee payroll and benefits for employees based in the US and support the USCIS related immigration requirements.
2. Compliance and Audits:
Regulatory Compliance: Ensure adherence to all payroll compliance regulations and tax laws ensuring timely remittances of deductions and statutory dues.
Audit Management: Support the statutory and tax audits providing necessary audit evidence and clear responses to auditrelated queries. Maintain organized and thorough documentation to support audit processes.
3. Team Management:
Guide the team members and ensure their development through relevant interventions and regular feedback. Identify and address skill gaps to enhance team performance.
Ensure the team members discharge the following assigned payroll benefits activities within required timelines:
Payroll Validation: Ensure accuracy and integrity in payroll processing by validating payroll inputs and outputs.
Salary Advances: Process salary advances in accordance with company policies.
Exit Management: Support employee exits by obtaining and documenting all necessary clearances process full and final settlement and issue required letters. Ensuring proper documentation and approvals in cases of payroll recoveries and writeoffs as applicable.
Benefits Administration: Administer retirals (provident fund NPS gratuity) and employee benefits (insurance car lease etc.) ensuring compliance with company policies and regulations.
Year end activities: Oversee the yearend tax proof submission process ensuring compliance and timely employee submissions and timely form16 generation.
TDS Returns: Handle quarterly TDS return filing and report validation.
Ensure timely resolution of employees payroll and leave related matters.
4. Process Improvement:
Process Improvement: Conduct periodic reviews of payroll processes identify areas for improvement and implement changes to enhance efficiency and accuracy.
Standardization: Establish and maintain standard operating procedures (SOPs) and FAQs to ensure uniform and standardized payroll process steps.
Documentation: Prepare and maintain accurate payroll records ensuring they are uptodate and readily accessible for audits and reporting.
Reporting: Ensure timely and accurate submission of payroll data for statutory and internal reporting requirements and closure of company books.
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.
Employment Type
Full Time
