Manager - Employee Benefits & Rewards Specialist

Key Responsibilities: ESOP Administration:

• Manage the day-to-day operations of the ESOP, including handling employee eligibility, vesting schedules, and stock allocations.
• Work with external administrators, accountants, and legal advisors to ensure the ESOP is properly managed and compliant with regulations.
• Maintain accurate records of employee stock ownership and ensure all transactions are documented correctly.
• ESOP portal management.
• Manage the process for employee stock purchases, sales, and distributions, ensuring compliance with plan rules.

• Manage end-to-end payroll processing for all employees, ensuring accuracy and compliance with statutory requirements.
• Calculate salaries, deductions, bonuses, incentives, and final settlements.
• Ensure timely disbursement of salaries and coordination with the finance team.
• Handle payroll-related queries and resolve discrepancies promptly.
• Maintain and update payroll software with employee data changes.

• Administer the company’s Mediclaim policies, including employee enrolment, renewals, and endorsements.
• Act as the primary contact for employees regarding Mediclaim queries, claims processing, and grievance resolution.
• Coordinate with insurance providers and third-party administrators (TPAs) for smooth claims settlement.
• Track claim statuses, manage escalations, and ensure timely reimbursements.
• Organize employee awareness sessions on Mediclaim benefits and claim processes.

• Manage other employee benefit programs such as group insurance, accidental coverage, and wellness programs.
• Ensure accurate data management for all employee benefit schemes.
• Analyse benefit utilization trends and suggest improvements in policies.

• Ensure compliance with statutory benefits like maternity benefits, leave policies, and gratuity as applicable.
• Maintain proper documentation for benefit-related statutory requirements.

• Prepare monthly reports on claims, benefit utilization, and cost analysis.
• Provide insights to the AVP for decision-making on policy renewals and negotiations.

• Educate employees about the company's compensation and benefits offerings.
• Provide information and answer queries related to compensation, bonuses, stock options, benefits, and other rewards.

• Data Sharing: Both resources will collaborate to ensure employee data consistency across payroll, compliance, and benefits platforms.
• Audit Support: Jointly support internal and external audits related to compensation and benefits.
• Policy Development: Work together under the guidance of the AVP to update or develop compensation and benefits policies.