Which HR certifications should be done to enter in HR compensation or payroll job profiles? Do FPC/CPP certifications help Indians or is it just for American citizens?

it may not give exact details about payroll here but this will give you the basic understanding and an advantage over other candidates.

Certified Professional in Learning and Performance (CPLP), Professional in Human Resources (PHR), Senior Professional in Human Resources (SPHR), SHRM Certified Professional (SHRM-CP) are some of the certifications that can help you to start career in HR compensation or payroll job profiles. You may start the career as HR Generalist and later move to payroll specific job role.

FPC or CPP are generally American certifications and since statutory compliance system is quite different here in India than America, it may not give exact details about payroll here but this will give you the basic understanding and an advantage over other candidates.