Abstract Background: The Sustainable Development Goal 5 focuses to “Achieve gender equality and empower all women and girls.” Promoting women’s empowerment is essential for reducing violence against women, decision-making in health and well-being, and proper upbringing of children, thereby reducing maternal and child mortality. Objectives: The objectives of this study were to assess the level of empowerment among married women residing in selected slum settlements of Kolkata, to estimate the proportion of employed women, to describe the pattern of decision-making among them, and to find the sociodemographic factors (if any) associated with the level of empowerment. Materials and Methods: A cross-sectional observational study was carried out among 350 married women using face-to-face interviews from October 2022 to September 2023. The study utilized a predesigned, pretested, and structured schedule consisting of questions adapted from the National Family Health Survey-5 women’s questionnaire. Data analysis was conducted using SPSS version 25.0. Multivariable multinomial logistic regression was employed to identify factors associated with low and medium women empowerment. Results: Of the 334 participants surveyed, approximately half exhibited low levels of empowerment (49.7%). The majority of study participants reported that decisions pertaining to their own health care, significant household purchases, visits to family or relatives, and voting in elections were made jointly by both spouses. The age of the respondent between 19 and 28 years (adjusted odds ratio [AOR] 4.54 [1.09–18.80]) and the age of husband between 35 and 48 years (AOR 4.48 [1.46–8.28]) had statistically significant higher AOR of low women empowerment. Conclusion: A substantial proportion of women in the study had low empowerment scores and less than one-fifth were employed. Increasing employment opportunities for women and promoting their social participation is recommended.