Career Information > BFSI > Accounts Executive (Payroll)

Last Updated on :16/10/2023
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Accounts Executive (Payroll)

Aliases: Accountant, Bookkeeper, Account Representative, Payroll Executive, HR Specialist (Payroll)

Industry/Sector(s): BFSI


JOB DESCRIPTION 1

The tasks an Accounts Executive (Payroll) is expected to perform include:

  • Maintaining and updating records related to salaries payable
  • Preparing salary advices
  • Filing and recordkeeping
WORK ENVIRONMENT 3, 4, 5
  • It is a desk job   
  • May need to handle a team
  • Travelling is not a part of this job role
  • Part-time jobs are available
  • Work from home option is not available
Working hours
  • Organizations usually work for 5/6 days a week and 8/9 hours everyday. This may vary from organization to organization
  • Shift system is available
Is the job suitable for a candidate with special needs?

This job is suitable for candidates with One Arm (OA), One Leg (OL), One Leg and One Arm (OLA) and those who have Low Vision (LV)

This may vary from organization to organization

EDUCATIONAL QUALIFICATIONS AND TRAINING 1
  • Preferably, graduation in Commerce/allied subjects or diploma in commercial practice
  • Certified training for Accounts Executive (Payroll) (programme aligned to BSC/Q 1201 released by BFSI Sector Skill Council of India)
KEY COMPETENCIES 1
  • Knowledge of key salary components like basic, HRA (House Rent Allowance), travelling allowance, etc.
  • Adept at maintaining employee records
  • In-depth knowledge of accounting principles
  • Knowledge of computer programmes like MS Excel, MS Word, Tally, etc.
  • In-depth knowledge of financial concepts like calculation of interest, VAT, service tax, statutory deductions from salary, etc.
DESIRABLE COMPETENCIES 1
  • Preferably training offered by respective financial institutions
  • Ability to multitask
  • Highly motivated and self-driven
  • Good analytical skills
  • Good communication skills
  • Problem-solving skills
AVAILABLE SKILL TRAINING AND LEARNING INSTITUTES 
  • Indian Institute of Banking and Finance
    http://www.iibf.org.in/
     
  • The Institute of Professional Accountants
    http://tipa.in/
AVAILABLE SKILL TRAINING SCHEMES/SCHOLARSHIPS 


SAMPLE OF TRAINING AND LEARNING COURSES 


CAREER PROGRESSION PATH 6

Payroll Manager

             ↑

Senior Payroll Executive

             ↑

Taxation Executive

             ↑

Accounts Executive (Payroll)

             ↑

Junior Accountant

The progression is indicative

EXPECTED EARNINGS 2
  • For candidates with 2 to 5 years of experience - Rs 20,000 to Rs 29,000 per month

These figures are indicative and subject to change

REQUIRED WORK EXPERIENCE 1

Generally, relevant work experience required

PROBABLE EMPLOYERS 2, 3, 4
  • Banks
  • Insurance companies
  • Payroll management companies
KEYWORDS 
  • Accountant
  • Bookkeeper
  • Account Representative
  • Payroll Executive
  • HR Specialist (Payroll)
OCCUPATIONAL CODES AND STANDARDS 
StandardCodeDescription
NCO 20154313.0101Accounts Executive (Payroll)
ISCO 20084313Payroll Clerks
NIC 200869201Accounting, bookkeeping and auditing activities
QP ReferenceBSC / Q 1201Accounts Executive (Payroll)
NSQF4Not available
REFERENCES 

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