Job Description of Payroll Specialist

Job Summary

A Payroll Specialist is responsible for managing the entire payroll process, ensuring employees are paid accurately and on time while maintaining compliance with tax regulations and company policies. This role involves calculating wages, processing deductions, managing payroll records, and handling employee payroll-related inquiries. The Payroll Specialist collaborates with HR and finance teams to ensure smooth payroll operations, contributing to employee satisfaction and financial compliance.

Key Responsibilities

• Process bi-weekly or monthly payroll, ensuring accurate calculations of salaries, overtime, and bonuses.
• Calculate and apply tax withholdings, deductions, and benefits contributions in compliance with legal requirements.
• Maintain employee payroll records, including salary updates, job status changes, and tax documents.
• Ensure compliance with federal, state, and local labor laws, as well as company policies.
• Address and resolve payroll discrepancies, employee concerns, and payment issues in a timely manner.
• Generate and analyze payroll reports for auditing, budgeting, and compliance purposes.
• Collaborate with HR to track attendance, leaves, and benefit deductions affecting payroll.
• Process payroll for new hires, terminations, promotions, and salary adjustments.
• Coordinate with the finance department for tax filings, payroll funding, and reconciliations.
• Stay updated with payroll regulations, tax law changes, and best practices to ensure compliance.

Qualifications

• Bachelor’s degree in Accounting, Finance, Human Resources, or a related field.
• 2+ years of payroll processing experience with a strong understanding of payroll systems.
• Proficiency in HRIS software, payroll platforms, and tax regulations.
• Strong attention to detail, problem-solving skills, and numerical accuracy.

A Payroll Specialist plays a vital role in ensuring payroll efficiency, legal compliance, and employee satisfaction.