Payroll & Compensation Specialist

Money Forward India is looking for a Payroll & Compensation Specialist to independently own end-to-end payroll and compensation operations for our India entity (employees across our Chennai and Pune offices). This is our first dedicated HR hire in the Pune office, working directly under the Head of HR, and offers a rare opportunity to build and own payroll and compensation processes for a fast-growing global fintech company.

While payroll and compensation are the core mandate, this role is part of a small, hands-on HR team and will also support broader HR operations from time to time.

Responsibilities

Payroll Independently run the monthly payroll cycle end-to-end for all Money Forward India employees (Chennai + Pune) — inputs collection, attendance/leave reconciliation, processing, validation, disbursement support, and payroll lock. Manage payroll software operations (Zoho Payroll or similar), including employee master data accuracy, new joiner/exit updates, and full & final settlements.

Handle statutory deductions and reporting: PF, ESI, Professional Tax (Tamil Nadu & Maharashtra), TDS, LWF, Form 16, investment proof verification, Leave Encashment, Gratuity Act, Bonus Act. Administer payroll-linked benefits and deductions (e.g., flexible benefits, car lease EMIs, reimbursements). Respond to employee payroll and tax queries with accuracy and empathy.

Compensation

Support CTC structuring for offers, revisions, and internal movements. Support the semi-annual increment and bonus cycle: data preparation, letter generation, and payroll implementation. Assist with salary benchmarking and compensation analysis (grade-wise distribution, comp-to-budget tracking). Compliance Own coordination with our external labor compliance consultant for monthly, quarterly, and annual statutory filings across Tamil Nadu and Maharashtra (Shops & Establishments, Minimum Wages, Professional Tax, POSH annual report, etc.)

Maintain statutory registers and documentation; support internal and external audits. Track regulatory changes affecting payroll and flag impact to the Head of HR.

Requirements

Must Have 5+ years of experience in payroll and compensation, with demonstrated end-to-end ownership of payroll (not only a sub-process in a large shared-services team). Strong working knowledge of Indian payroll statutory requirements: PF, ESI, PT, TDS, LWF, gratuity, bonus, and full & final settlements. Hands-on experience with payroll software (Zoho Payroll preferred; GreytHR, Keka, RazorpayX Payroll, or similar acceptable).

Advanced Excel / Google Sheets skills for payroll validation and compensation analysis. High integrity and discretion in handling confidential compensation data. Strong written and spoken English; able to support a large employee base through clear async communication. Based in Pune or willing to relocate to Pune (on-site role).

Nice to Have

Experience owning or closely coordinating multi-state labor compliance (Maharashtra and/or Tamil Nadu a strong plus), including working with external compliance consultants. Experience with compensation benchmarking, salary surveys, or comp analytics. HRMS administration experience (Zoho People or similar). Exposure to multinational or multi-entity organizations (working with global HQ teams).

Experience in a startup or mid-size company (100–500 employees) where you built or improved payroll processes. Comfort using AI tools to work smarter — e.g., generating complex Excel/Sheets formulas, building small automations for payroll validation, or drafting employee communications — combined with sound judgment on data security and confidentiality when handling sensitive payroll data.

Ideal Candidate Profile The ideal candidate has personally owned payroll for a 100–500 employee organization and is comfortable being the single point of accountability for getting everyone paid accurately and on time. They are a self-starter who thrives in a small office environment without day-to-day peer support, communicates proactively with remote colleagues and external consultants, and is happy to roll up their sleeves on general HR work beyond their core mandate.

Bonus points for candidates who use AI tools thoughtfully to automate repetitive work and boost accuracy, while treating employee data security as strictly non-negotiable.