Interview With Payroll Operations Expert

Hello Mr. Ramakrishna, we’re glad to have this conversation with you. Can you tell us something about yourself?

--Srinivas Sarakadam
I come from an Economics background and have started my professional career with G4S in 2006. I have been working in Various Sectors like Services (G4S), Manufacturing (Veljan Group), Software (AppLabs & CSC) and Banking & Finance (HSBC) and has overall 16 years of professional experience in Payroll Operations.

--Ramakrishna
Can you give us an insight into Payroll Operations?

--Srinivas Sarakadam
Payroll Operations involves managing the complete cycle of an employee from Hire to Exit. It includes Pay Calculation, Statutory Deductions towards Provident Fund, Professional Tax, Employees State Insurance (ESIC), Income Tax etc., and remitting the same to respective regulatory authorities, and Retails Benefits like Gratuity.

--Ramakrishna
You have over 16 years of experience in this field. Tell us something about this journey.

--Srinivas Sarakadam
It’s been a great journey so far. I believe it’s a great opportunity to help employees and provide necessary support & guidance to them as and when it is required.

--Ramakrishna
What are the skills needed to succeed in this sector?

--Srinivas Sarakadam
You need to be good with numbers, have good Analytical Skill, should be patient, must possess the ability to work under pressure, must learn quickly from past mistakes and be able to build preventive controls

--Ramakrishna
You have worked in various sectors like manufacturing, software, banking and finance. Was it difficult to make the switch?

--Srinivas Sarakadam
Almost 80% of the Payroll Operations are common in all sectors. Only internal policies may differ from sector to sector. Hence, it is not difficult to switch.

--Ramakrishna
What are the challenges you face in your work life? How do you deal with work stress?

--Srinivas Sarakadam
Payroll is a critical support function. Most of the times you can’t plan your activities. Since it is related to pay, always you have to deliver within tight deadlines under tremendous pressure.

--Ramakrishna
How do you generate new ideas?

--Srinivas Sarakadam
I always like to build new ideas by discussing with colleagues in team meetings.

--Ramakrishna
Your career is inspiring in so many ways. What inspires you to do your best?

--Srinivas Sarakadam
In my initial days, most of the employees were unskilled and not familiar with Pay Calculation. After receiving the salary, they used to come and thank us for paying the salary timely and correctly. When the employees feel happy, it’s a great feeling and feel proud to be part of Payroll Operations

--Ramakrishna
As a subject expert, do you have any piece of advice for our readers?

--Srinivas Sarakadam
Pay attention, learn from mistakes. No one is perfect, everyone do mistakes, but it should not be repeated, identify the route cause and build additional controls to prevent recurrence.

--Ramakrishna
An impactful moment or experience that you’ll never forget?

--Srinivas Sarakadam
When working with HSBC, I received demand notices from Income Tax Department to pay around INR 1 Cr. Worked on those demands and bring down the demand to around INR 2000.

--Ramakrishna
According to you, what is the secret to success?

--Srinivas Sarakadam
Confidence is the key to success, always work with confidence.

--Ramakrishna
How do you deal with and overcome failure?

--Srinivas Sarakadam
Analyse route causes, identify the gaps and find the solution to overcome failures

--Ramakrishna
Congratulations on your role as the Director of Cred Matters! What is your vision for the international investment platform?

--Srinivas Sarakadam
Its great platform for Entrepreneurs looking for Investors and Investors looking for investment options. Will definitely reach to as many as Entrepreneurs & Investors and cater their needs.

--Ramakrishna

Interview With Payroll Operations Expert

Ramakrishna