Finance Associate - Payroll

Designation : Finance Associate : Payroll
Job Location : BKC, Mumbai ( Hybrid)

We are looking for a confident Finance Associate to support our team with various payroll, accounting, and analytical responsibilities. Your duties will involve handling payroll onboarding, calculating salaries across 10+ regions, overseeing tax declaration procedures in India, managing payroll exit procedures, maintaining accounting records, processing payments, ensuring compliance with regulations, supervising accounting tasks, analysing financial data related to payroll, coordinating responses to audit inquiries regarding payroll, and maintaining the accuracy of financial records.

About Nivoda

Nivoda is the leader in B2B jewellery, driving innovation within the global jewellery industry. We leverage our online platform to connect buyers and sellers, offering a transparent, efficient, and cost-effective platform for trading jewellery. With sales growth of over 150% in the last twelve months and our team expanding from 150 to 400+ FTE globally, Nivoda is revolutionising the way jewellery is sold and bought. As a member of our finance team, you will play a vital role in this exciting journey.

What you'll be doing:

• Payroll Processing: Managing the payroll process, which involves calculating and disbursing salaries or wages to employees accurately and on time.

• Payroll Cost Booking: Preparing Payroll Cost Booking Journal and Posting on Netsuite

• Data Entry: Maintaining and updating employee information, tax details, and other payroll-related data in the payroll system.

• Tax Compliance: Ensuring compliance with local, state, and federal tax regulations, including withholding taxes, reporting, and remittance.

• Record Keeping: Maintaining accurate payroll records and documentation for auditing and reporting purposes.

• Payroll Reporting: Preparing and generating payroll reports for management, HR, and accounting departments.

• Legal Compliance: Staying up to date with labor laws and regulations to ensure payroll practices are in compliance.

• Problem Resolution: Addressing payroll-related inquiries and issues from employees, resolving discrepancies, and assisting with payroll-related problem-solving.

• Year-End Activities: Preparing and distributing Form 16 or equivalent forms, and handling year-end tax reporting requirements.

• Software Utilization: Proficiency in payroll software and tools to streamline processes and enhance efficiency.

• Communication: Collaborating with HR, Admin, and other departments to ensure smooth coordination regarding payroll matters.

• Auditing and Reconciliation: Regularly auditing payroll data for accuracy and reconciling any discrepancies.

• Continuous Improvement: Identifying and implementing process improvements to enhance the efficiency and accuracy of the payroll function.

• Confidentiality: Maintaining strict confidentiality of payroll information and employee data.

What you’ll need:

• 1-2 years of experience in payroll operations and accounting.
• Bachelor's or Master's degree in Commerce or a related field.
• Strong quantitative skills with keen attention to detail.
• Proficient in English.
• Compliance-oriented mindset.
• Excellent communication and interpersonal abilities.
• Familiarity with Excel or Google Sheets.
• Analytical and adept at problem-solving.
• Basic understanding of accounting principles.
• Ability to work well within a team.

What we offer:

• Dynamic working environment in an extremely fast growing company

• Ample experience to grow and learn

• Work in an international environment

• Work in a pleasant environment with very little hierarchy

• Ability to grow into managerial role