Water contamination due to untreated industrial wastewater presents serious environmental and health risks due to the toxicity and persistence of metals such as lead (Pb2⁺), cadmium (Cd2⁺), nickel (Ni2⁺), and chromium (Cr3⁺). Membrane filtration offers a promising solution, allowing for the selective removal of heavy metal ions while maintaining high water permeability and minimizing secondary waste production. In this study, a composite membrane was synthesized using polysulfone as the base polymer, activated carbon as an adsorptive material, and polyvinylpyrrolidone (PVP) as a pore-forming agent through the nonsolvent-induced phase separation (NIPS) technique. The membrane was characterized using scanning electron microscopy (SEM), Fourier-transform infrared spectroscopy (FTIR), X-ray diffraction (XRD), and thermogravimetric/differential thermal analysis (TGA/DTA). Filtration tests conducted with synthetic heavy metal solutions showed high removal efficiencies for lead (91.84%) and nickel (95.04%), attributed to the porous structure and increased surface area of the membrane. Cadmium removal was moderate (66.40%), while chromium removal was low (1.92%), indicating a need for further optimization for these metals. The study highlights the effectiveness of the composite membrane in selectively removing lead and nickel from wastewater, demonstrating its potential for industrial applications. Future work will focus on enhancing the membrane’s performance for cadmium and chromium removal and exploring its scalability for broader industrial use.