Location: Mumbai Maharashtra India, India
The HR Benefits Analyst (C09) is responsible for ensuring that all benefit operations and procedures are carried out in line with established protocols and in-country governance regulations. This role involves overseeing day-to-day benefit operational activities and ensuring that Standard Operating Procedures (SOPs) and Operating Procedure Manuals (OPMs) are kept up to date. The role requires sound knowledge of employee benefit programs and relevant industry practices. Strong proficiency in MS Excel is essential to maintain benefit trackers, manage large sets of data accurately, and ensure precise calculations for employee disbursements and final settlements.
**India Key Processes**
**Downstream Payroll Interface & Reconciliations**
- Work closely with the Payroll team each month to receive, match, and validate employee deduction files.
- Perform two-way reconciliations between payroll reports and benefit records before any money is paid out.
- Review and correct data differences caused by salary revisions, arrears, new joiners, exits, and unpaid leaves.
**Provident Fund (In House Trust and EPFO Trust)**
- Maintain the master database for PF for Citibank in House PF Trust
- Review and approve monthly PF settlement claims, transfer requests, and death claims.
- Reconcile annual PF accounts and ensure yearly member account slips are generated and sent to employees.
- Ensure all new joiners complete **Form 11 declarations** and **KYC verification**.
- Checking of monthly Electronic Challan cum Return (ECR) files and complete statutory PF payments on the EPFO portal within government deadlines.
**Gratuity**
- Track the solvency and balance of the Gratuity fund to make sure liabilities are fully funded.
- Coordinate required policy funding and premium payments with fund managers (such as LIC) with complete payment records.
- Review and approve monthly employee gratuity settlement calculations and disbursements upon exit or retirement.
- Work to automate and update internal gratuity calculation sheets and liability models.
**Superannuation & Management Pension**
- Maintain the Superannuation member master file, tracking active members, voluntary contributions, deferrals, and exit payouts.
- Manage monthly calculations for retired staff pension, annual indexation/pension increases, and arrears.
- Track and verify annual **Life Certificates** submitted by pensioners to ensure continuous and valid pension disbursements.
- Ensure accurate generation and distribution of annual Superannuation account statements to employees.
**Actuarial Valuation Headcount Preparation**
- Partner with external actuaries, Corporate Finance, and Risk teams for annual and interim valuation exercises.
- Collect, clean, and provide audited demographic and employee data for Gratuity, Leave Encashment, and Pension valuation reports.
- Maintain and improve internal tracking templates and valuation models.
**Tax Compliance (TDS / e-TDS)**
- Calculate tax (TDS) deductions on all retirement, pension, and trust claim payouts.
- Support the timely filing of quarterly **e-TDS returns (Form 24Q / Form 26Q)**.
- Generate and issue Form 16 / Form 16A tax certificates to beneficiaries and retirees.
**Retirement Trusts Governance**
- Support administrative and secretarial tasks for Employee Benefit Trusts (Deck for Board of Trustees meetings)
- Maintain official trust accounting books and ensure all investments follow approved trust guidelines and banking regulations.
- Lead end-to-end preparations for annual statutory audits of retirement trusts to ensure zero audit findings.
**Partner Governance & Query Resolution**
- Supervise third-party administrators (such as HGS) and insurance partners (such as LIC) through regular performance reviews and SLA scorecards.
- Act as the senior point of contact to resolve complex queries or escalations from ex-employees, alumni, and retirees.
- Guide and support junior team members to maintain high operational accuracy and meet daily turnaround times.
**Required Qualifications & Skills**
- **Education:** Bachelor’s or Master’s degree in Commerce, Finance, Accounting, Business, or HR.
- **Experience:** 5 to 8 years of relevant experience in Benefits Operations, Retirement Trusts, Payroll, or HR Compliance.
- **Product Knowledge:** Strong understanding of statutory retirement rules (PF/EPFO, Gratuity, Superannuation, Pension, Trust Governance, and TDS).
- **Technical Skills:** Strong proficiency in MS Excel (VLOOKUP, Pivot Tables, basic formulas) and HR/Payroll platforms (such as Workday, SAP, or PeopleSoft).
- **Communication:** Clear verbal and written English communication skills for collaborating with regional teams, finance, and external partners.
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
## **Job Family Group:**
Operations - Core
## **Job Family:**
Operations Support
## **Time Type:**
Full time
## **Most Relevant Skills**
Please see the requirements listed above.
## **Other Relevant Skills**
For complementary skills, please see above and/or contact the recruiter.
*Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.*
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