· Ledger management: Maintain various ledgers, including the general ledger, cash books, and bank books. Record day-to-day transactions such as sales, purchases, receipts, and payments.
· Reconciliations: Perform regular bank and vendor reconciliations to ensure the accuracy of financial records and identify any discrepancies.
Payroll management responsibilities
· Statutory deductions: Calculate and manage all relevant statutory deductions from employee salaries, including Provident Fund (PF), Employee State Insurance (ESI), and Tax Deducted at Source (TDS).
· Payslip generation: Create and distribute detailed payslips to all employees.
Tax and statutory compliance
· TDS compliance:
o Deduct TDS from vendor payments and employee salaries as per the income tax regulations.
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· ESI compliance:
o Accurately calculate and manage both employee and employer ESI contributions.
· PF compliance:
o Ensure timely payment of contributions and administration charges to the Employees' Provident Fund Organisation (EPFO).
· GST compliance:
o Ensure correct bookkeeping of transactions that fall under the Goods and Services Tax (GST).
· Tally:
o Use the payroll module in Tally to manage employee data, process salaries, and handle statutory deductions automatically.