JOB DESCRIPTION AND RESPONSIBILITY
Payroll Officer
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Introduction
Payroll Officers calculate salaries, update payroll systems with employee information, and preparing internal and external tax reports, and process salary payments to employees.
Skills and Abilities
Math and Accounting Skills
Math and Accounting skills are basic requirements for a Payroll Officer. They need to have good math and accountancy skills in order to analyze the account, call debtors and ask them to return the money.
communication and public speaking skills
They need to have good Interpersonal and Communication Skills in order to talk to people in the organization such as the sales department, accounting department, and other relevant departments.
Time Management
Time management is the ability to complete tasks within a certain time frame and as they have to multitask and complete each day, time management skills can help them meet their deadlines.
Job Description
Payroll Officers are responsible for handling the payroll-related activities of their organization. Their work includes calculating and recording employee hours, wages, taxes, etc., as well as preparing checks to be sent out at the end of each pay period.
Job Roles & Responsibilities
- identify trends or issues with accounting practices
- Adjust payroll for all employees by calculating withholdings for taxes, and garnishing wages for delinquent debts
- Understand labor laws and regulations related to payroll administration
- They Calculating wages, deductions, and other data for payroll
- Create reports on employee wages, hours worked, deductions, and other information related to payroll
- Answer payroll inquiries from employees
Key Result Areas(KRA)
Key Performance Indicator(KPI)
| SR NO. | Key Reult Area(KRA) | Key Performace Indicator (KPI) |
|---|---|---|
| 1 | How many Daily Collection weekly or monthly timesheets created in a month | No. Of Daily Collection weekly or monthly timesheets created in a month |
| 2 | How many bonuses and allowances executed in a amonth | No. Of bonuses and allowances executed in a amonth |
| 3 | Monthly employees’ compensation using payroll software status | Employees’ compensation using payroll software status |
| 4 | Monthly report on bank payments or hand out paychecks directly to employees | No. Of report on bank payments or hand out paychecks directly to employees |
| 5 | How many payment statements and gather signed receipts (digital or paper) in a month | No. Of payment statements and gather signed receipts (digital or paper) in a month |
| 6 | Monthly payroll expenses Status | No. Of payroll expenses Status |
| 7 | Wages and tax withholdings comply with regulations Monthly report generation | Wages and tax withholdings comply with regulations Monthly report generation Status |
| 8 | How many new employees’ data (e.g. bank accounts and tax identification numbers) into internal databases created in a month | No. Of new employees’ data (e.g. bank accounts and tax identification numbers) into internal databases created in a month |
| 9 | Query resolution of compensation, benefits, taxes and insurance deductions of Employees in a month | No. Of Query resolution of compensation, benefits, taxes and insurance deductions of Employees in a month |
Example of KRA VS KPI Mapped in Organisation and Reporting
| Eg. | Reporting By Employee | Employee Reporting |
|---|---|---|
| 1 | How many Daily Collection weekly or monthly timesheets created in a month | Daily Collection weekly or monthly timesheets created in a month : 5 |
| 2 | How many bonuses and allowances executed in a amonth | Bonuses and allowances executed in a month :Bonuses:2 ; Allownaces : 25 |
| 3 | Monthly employees’ compensation using payroll software status | Employees’ compensation using payroll software status : Yes Done |
| 4 | Monthly report on bank payments or hand out paychecks directly to employees | Bank payments or hand out paychecks directly to employees :1 |
| 5 | How many payment statements and gather signed receipts (digital or paper) in a month | payment statements and gather signed receipts (digital or paper) in a month :5 |
| 6 | Monthly payroll expenses Status | Monthly payroll expenses Status : Yes Executed |
| 7 | Wages and tax withholdings comply with regulations Monthly report generation | Monthly report generation of Wages and tax withholdings comply with regulations Status : Yes |
| 8 | How many new employees’ data (e.g. bank accounts and tax identification numbers) into internal databases created in a month | New employees’ data (e.g. bank accounts and tax identification numbers) into internal databases created in a month :16 |
| 9 | Query resolution of compensation, benefits, taxes and insurance deductions of Employees in a month | Query resolution of compensation, benefits, taxes and insurance deductions of Employees in a month : 8 |
The Payroll Officer typically work in an office environment, although they may travel to meet with clients or attend conferences. They typically work regular business hours, although they may occasionally work evenings or weekends to accommodate their clients’ schedules. Payroll Officers may work for banks, financial services firms, or other businesses that offer products or services that require ongoing customer service and support.
Salary
Payroll Officer Salary in India ranges between ₹ 1.8 Lakhs to ₹ 12.0 Lakhs with an average annual salary of ₹ 4.0 Lakhs. The Amount may vary through different factors like cities, experience workflow, and workload.
Conclusion
A Payroll Officer has many responsibilities, such as planning the billing, accounts receivable, and collections operations of a department, and will work with many professionals, such as Accountants, to understand what clients are late with billing and how to approach customers as needed. Having excellent attention to detail and communication skills will help promote you for better aspects with a higher pay scale and excellent attention to detail since you will need to manage several accounts at one time.
