Senior Manager-Compensation & Benefit

National Commodity & Derivatives Exchange (NCDEX); Mumbai; On-site; INR 2,000,000 - 3,500,000; Full time

Job summary

NCDEX in Mumbai is seeking a senior HR professional to lead Compensation & Benefits, ensuring adherence to tax rules, payroll processing, and regulatory compliance across all employee categories, including top management.

The role covers end-to-end benefits administration, benchmarking, budgeting, HRIS reporting, and audits, with a focus on data accuracy, governance, and alignment with SEBI guidelines.

Qualifications

• MBA/PG in HR (Full Time) is required.
• Graduation in Commerce is preferred.
• Certification in Compensation & Benefits / Labour Laws is preferred.
• 7-8 years of relevant work experience.
• Expert knowledge of Total Rewards, income tax rules, perquisites and TDS.

Responsibilities

• Execute compensation framework and monitor HR Budgets for a regulated organisation.
• Payroll administration with adherence to Income Tax rules and statutory requirements for all employee categories, including top management with Malus and Clawback per SEBI guidelines.
• Ensure HR policies and payroll operations comply with labor laws and regulatory directives; file returns on time (ETDS, Form 16, etc.).
• Manage end-to-end benefits administration (PF, NPS, Gratuity, insurance, health schemes) and periodic benchmarking.
• Support C&B benchmarking, derive insights, and present recommendations to top management.
• Ensure regulatory compliances, employee declarations, and periodic submissions to SEBI.
• Handle HRIS modules (Attendance, Leave, Travel, Separation, Reimbursement) and generate compliance reports.
• Lead audits and vendor management to ensure data accuracy and governance.

Skills

Total Rewards

Income Tax Rules

Payroll Processing

Labor Laws

Budgeting

HR Analytics

Advanced Excel

HRIS Dashboards

Education

MBA/PG in HR (Full Time)

Graduation in Commerce

Certification in Compensation & Benefits / Labour Laws

Tools

Advanced Excel

PowerPoint

HRIS

Job description

Job Purpose

• This is a critical position in the organization as it is responsible for successful implementation of Compensation & Benefits philosophy of the organization and also ensure complete compliance with statutory & regulatory compliances under all applicable Laws.

Key Result Areas

• Execution of compensation framework, philosophy and monitoring of HR Budgets for a highly regulated organisation
• Payroll administration with complete adherence to Income ax rules & statutory requirements for all categories of employees including top management compensation with Malus and Claw back as per SEBI guidelines
• Ensure all HR policies and payroll operations strictly adhere to labor laws and directives from financial regulators. At the task level includes but not limited to
  • Timely and accurate filing of various returns, ETDS, Form 16, etc.
  • Timely settlements of the retiral claim.
  • Accurate and timely handling of all statutory requirements
• Manage end to end Benefits administration
  • Retiral benefits such as NPS, Employee Provident Fund (PF), and Gratuity. Co-ordination with EPFO & LIC etc.
  • Policy benefits reimbursement process such as car expenses, insurance claims etc
  • Health Insurance Schemes such as GMC, GPA, GTL and Employee Health Checkups
  • Periodical review and benchmarking of the benefits under these policies.
  • Strengthen benefit optimization through employee awareness / education
• Support Periodic C&B Benchmarking to ensure competitive positioning, derive inferences and present findings and recommendations to top management
• Responsible for Regulatory compliances, employee declarations & periodical submission pertaining to HR to the SEBI
• Exit Process Management for all levels of employees including top management and associated regulatory directives .
• HRIS Handling Attendance & Leave, Travel, Separation & Reimbursement modules on HRIS. Query Redressal.
• Utilize modern HRIS dashboards with visualization tools to generate compliance reports and compensation analysis for top management and CHRO
• Lead the HR component of process , statutory, and regulatory audits, ensuring flawless data accuracy and governance in respect to Total Rewards and Regulations
• Vendor Management - Ensuring the best quality of services, renewal of contracts, etc

Preferred Profile

Educational Qualification

• MBA/Post Graduation in HR (Full Time)
• Graduation in Commerce is preferred
• Certification in Compensation & Benefits / LLM / Advanced Certificate in Labour Laws is preferred

Experience

• 7-8 years of relevant work experience

Functional Competencies

• Expert knowledge of concepts of Total Rewards including Income Tax Rules, Perquisites, TDS etc
• Experience in budget preparation and monitoring
• Should have handled end to end payroll processing of mid-size organization independently.
• Comprehensive knowledge of labor laws and specific regulatory mandates governing HR practices within financial market
• Ability to curate and manage employee benefits and HR policies of leave, attendance, allowances, reimbursements etc to ensure employee engagement
• Expert level knowledge of Advanced Excel and power point
• Proficient in advanced HRIS dashboards/ applications