Job Purpose:
The role is responsible for the end-to-end management of the Provident Fund (PF) Trust ensuring compliance with statutory regulations efficient fund administration timely reporting and governance of trust-related activities. The incumbent will act as a liaison between employees trustees regulatory authorities and internal stakeholders.
Job Context & Major Challenges:
Job Context:
PF Trust for Jayashree Textiles (JST) and the Insulators business is jointly managed by a resource. JST has relatively large stake in PF Trust Management on account of the volume of members. This requires a thorough understanding of laws processes and seamless execution for a perfect employee experience
Major Challenges:
- Large volume
- Offline-Trust
- Changing Legal landscape and continuous updation required in terms of rules
Accountability | Supporting Actions |
Trust Governance & Compliance | - Ensure strict adherence to PF Trust Rules Trust Deed and bylaws under Employees Provident Funds & Miscellaneous Provisions Act 1952 and related schemes (EPF EPS)
- Manage statutory obligations related to exempted PF trusts.
- Ensure timely filing of PF Trust returns statutory submissions and disclosures.
- Coordinate with EPFO auditors and other stakeholders for regulatory for inspections and approvals.
- Ensure adherence to investment guidelines prescribed by EPFO/MoF.
- Maintain proper documentation trust deed updates and board resolutions.
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PF Trust Operations - Managing member Accounts & Settlements
| - Manage member accounts including:
- Accurate Contributions posting
- Accurate Interest calculation
- Withdrawals transfers pension claims
- Ensure timely settlement of employee claims withdrawals transfers and settlements
- Ensure reconciliation of member balances with trust books.
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Fund Management & Investments | - Ensure investments are made as per EPFO investment guidelines
- Liaise with fund managers banks and institutions for investment execution.
- Monitor portfolio performance interest rates and returns and ensure compliance with approved asset allocation norms.
- Monitor returns and prepare investment performance reports.
- Coordination with Grasim CFD team for investment decisions
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Accounting & Financial Reporting | - Maintain PF Trust books of accounts in compliance with accounting standards.
- Preparation and finalization of PF Trust Balance Sheet & P&L
- Ensure accuracy completeness and timeliness of financial records
- Coordinate annual audits (internal & statutory).
- Periodic MIS and reporting to Trustees/Management
- Manage interest declaration and credit to member accounts.
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Loan Management | - Review and approve PF advances/loans ensuring compliance and recoverability.
- Monitor loan recoveries and ageing analysis.
- Ensure system-driven tracking and control mechanisms.
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Banking & Reconciliation | - Manage all banking transactions of the Trust.
- Ensure timely bank reconciliations and fund tracking.
- Monitor liquidity for settlements and investments.
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Stakeholder Management | - Act as the primary point of contact for:
- Employees (queries related to PF withdrawals balances)
- Trustees and Board members
- Auditors bankers and regulatory authorities
- Internal Departments like HR Payroll
- Facilitate PF Trust meetings and maintain minutes.
- Address member queries and escalations effectively.
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Audit & Risk Management & Other Regulatory Interfaces | Audit Inspection & Regulatory Interfaces - Ensure readiness for:
- Internal audits
- Statutory audits
- Annual EPFO inspections
- Records documentation and reconciliations
- Handle Internal Statutory and EPFO (RPFC) audits end-to-end
- Ensure timely closure of audit & observations.
- Act as primary interface with RPFC/EPFO authorities.
- Identify compliance and financial risks in PF Trust operations compliance and investments
- Devise steps for mitigation
- Implement strong internal controls checks and maker-checker processes.
- Ensure data integrity and audit trail maintenance.
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Systems & Process Improvement | - Implement best practices in trust governance and fund management.
- Ensure proper implementation and stabilization of PF software systems.
- Drive automation in accounting member records and reporting.
- Strengthen internal controls and SOP adherence.
- Standardize processes and reporting frameworks.
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Domain/ Leadership / Product or Service knowledge |
Preferred Education: MBA (HR/Finance) / CA / CMA / Commerce Graduate Domain & Leadership Skills: - Analytical and financial management skills
- High attention to detail and governance mindset
- Stakeholder management and communication skills
Service knowledge / Product knowledge: - Strong knowledge of PF laws EPFO guidelines and trust regulations
- Expertise in PF accounting investment norms and compliance
- Proficiency in Excel / HRMS / PF Trust software
- 510 years of experience in PF trust management payroll or statutory compliance
Key Deliverables / KPIs - 100% statutory compliance with zero penalties
- Timely settlement of PF claims
- Accurate accounting and audit closure
- Optimal investment returns within regulatory norms
- Employee satisfaction on PF services
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Preferred areas of Experience |
- PF Trust Management
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- PF Accounting
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- PF Software Management
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Required Experience:
Senior IC
Job Location:
Monthly Salary:
Posted:
Application Deadline:
Vacancies:
