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:
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Large volume
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Offline-Trust
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Changing Legal landscape and continuous updation required in terms of rules
Accountability
Supporting Actions
Trust Governance & Compliance
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Ensure strict adherence to PF Trust Rules, Trust Deed, and bylaws under Employees’ Provident Funds & Miscellaneous Provisions Act, 1952, and related schemes (EPF, EPS),
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Manage statutory obligations related to exempted PF trusts.
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Ensure timely filing of PF Trust returns, statutory submissions, and disclosures.
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Coordinate with EPFO, auditors and other stakeholders, for regulatory for inspections and approvals.
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Ensure adherence to investment guidelines prescribed by EPFO/MoF.
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Maintain proper documentation, trust deed updates, and board resolutions.
PF Trust Operations - Managing member Accounts & Settlements
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Manage member accounts, including:
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Accurate Contributions posting
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Accurate Interest calculation
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Withdrawals, transfers, pension claims
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Ensure timely settlement of employee claims – withdrawals, transfers and settlements
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Ensure reconciliation of member balances with trust books.
Fund Management & Investments
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Ensure investments are made as per EPFO investment guidelines
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Liaise with fund managers, banks, and institutions for investment execution.
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Monitor portfolio performance, interest rates, and returns and ensure compliance with approved asset allocation norms.
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Monitor returns and prepare investment performance reports.
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Coordination with Grasim CFD team for investment decisions
Accounting & Financial Reporting
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Maintain PF Trust books of accounts in compliance with accounting standards.
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Preparation and finalization of PF Trust Balance Sheet & P&L
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Ensure accuracy, completeness, and timeliness of financial records
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Coordinate annual audits (internal & statutory).
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Periodic MIS and reporting to Trustees/Management
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Manage interest declaration and credit to member accounts.
Loan Management
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Review and approve PF advances/loans ensuring compliance and recoverability.
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Monitor loan recoveries and ageing analysis.
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Ensure system-driven tracking and control mechanisms.
Banking & Reconciliation
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Manage all banking transactions of the Trust.
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Ensure timely bank reconciliations and fund tracking.
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Monitor liquidity for settlements and investments.
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Act as the primary point of contact for:
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Employees (queries related to PF, withdrawals, balances)
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Trustees and Board members
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Auditors, bankers, and regulatory authorities
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Internal Departments like HR, Payroll,
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Facilitate PF Trust meetings and maintain minutes.
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Address member queries and escalations effectively.
Audit & Risk Management & Other Regulatory Interfaces
Audit, Inspection & Regulatory Interfaces
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Ensure readiness for:
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Internal audits
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Statutory audits
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Annual EPFO inspections
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Records, documentation, and reconciliations
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Handle Internal, Statutory, and EPFO (RPFC) audits end-to-end
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Ensure timely closure of audit & observations.
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Act as primary interface with RPFC/EPFO authorities.
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Identify compliance and financial risks in PF Trust operations, compliance, and investments
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Devise steps for mitigation
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Implement strong internal controls, checks, and maker-checker processes.
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Ensure data integrity and audit trail maintenance.
Systems & Process Improvement
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Implement best practices in trust governance and fund management.
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Ensure proper implementation and stabilization of PF software systems.
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Drive automation in accounting, member records, and reporting.
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Strengthen internal controls and SOP adherence.
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Standardize processes and reporting frameworks.
Domain/ Leadership / Product or Service knowledge
Preferred Education:
MBA (HR/Finance) / CA / CMA / Commerce Graduate
Domain & Leadership Skills:
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Analytical and financial management skills
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High attention to detail and governance mindset
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Stakeholder management and communication skills
Service knowledge / Product knowledge:
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Strong knowledge of PF laws, EPFO guidelines, and trust regulations
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Expertise in PF accounting, investment norms, and compliance
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Proficiency in Excel / HRMS / PF Trust software
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5–10+ years of experience in PF trust management, payroll, or statutory compliance
Key Deliverables / KPIs
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100% statutory compliance with zero penalties
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Timely settlement of PF claims
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Accurate accounting and audit closure
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Optimal investment returns within regulatory norms
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Employee satisfaction on PF services
Preferred areas of Experience
