Family social capital (FSC) encompasses the positive relationships and effective functioning within a family that positively influences psychological well-being (PWB) of working women. This work investigates the complex relationship between well-being and FSC. Self-esteem (SE) and a sense of coherence (SOC) are critical concepts between working women’s FSC and well-being. The methodology of this cross-sectional study was carefully designed to explore complex relationships among multiple factors affecting the PWB of employed women in the Northern region of India. Three hundred fifteen usable questionnaires were obtained after a meticulous data cleansing process. The findings demonstrate that FSC enhances SE, which further positively influences PWB. Moreover, results shows that SE plays a significant role in mediating the relationship between FSC and well-being. The data also indicates a moderating role of SOC between FSC and well-being. The current study contributes significantly to the existing literature with theoretical implications by providing additional conceptual insights that can expand the overall understanding of FSC, particularly in the context of non-Western countries.