PAYROLL MANAGEMENT SERVICES
What We Do
Seamless Payroll Services, Elevating Efficiency.
Our services encompass comprehensive payroll management in Nigeria. This includes overseeing all aspects of your employees' financial records, including salaries, wages, bonuses, incentives, deductions, net pay, leave, overtime, and additional associated benefits.
Reasons why you should outsource your payroll management services
- Payroll Compliance: Entrusting your payroll management to an outsourcing service mitigates the risk of penalties resulting from challenges in keeping up with evolving tax laws and legal requirements.
Accurate Documentation and Reporting: With your payroll services managed by highly trained professionals, you can be confident in error-free reports and documentation.
Time Efficiency: Outsourcing your payroll management allows your organization to save precious time, enabling a focused approach on core business activities.
Enhanced Security of Payroll Data: To counter the risks of workplace fraud, identity theft, and fund embezzlement, outsourcing your payroll management to a third-party service is highly recommended.
1. Job Cost Analysis
2. Tax Audit Assistance
3. Employee Benefits Administration
4. Payroll Regulation Adherence
5. Payroll Advisory Services
6. Comprehensive Payroll Administration
7. Compliance Management for Labor Regulations
8. Yearly Payroll Reconciliation
9. Submission of Social Security Reports
10. Training Programs for Personal Income Tax
11. Development of Standard Operating Procedures (SOPs) and Training for Payroll
12. Maintenance of Centralized Payroll Database
13. Review of Tax Compliance for Local Employees
14. Processing of Employees’ Tax Clearance Certificates
15. Creation of Policy Documents for Payroll Benefits Administration
16. Company Registration for PAYE and Social Security
17. Structuring/Reorganizing Employee Compensation for Tax Optimization
18. Filing of Annual PAYE Tax Returns for Employees and Employers
19. Calculation of Statutory Deductions, including Tax, Social Insurance, and Pension
20. Monthly Payroll Processing and Notional Payments/Benefits Calculation
21. Review of Benefit Management Processes and Tax Withholding Logic
22. Initial Setup and Transition Services, including Payroll Registration with Local Authorities.
1. Data Collection and Timesheet Verification: This initial stage involves gathering relevant employee information, such as hours worked, attendance records, and any other pertinent data necessary for accurate payroll calculation.
2. Calculation of Gross Pay: Using the data collected, the gross pay for each employee is calculated. This typically includes regular wages, overtime pay, bonuses, and any other earnings before deductions.
3. Deductions and Withholdings: Various deductions and withholdings, such as taxes, insurance premiums, retirement contributions, and other relevant deductions, are subtracted from the gross pay to determine the employee’s taxable income.
4. Net Pay Calculation: After deducting all applicable taxes and deductions, the net pay, or take-home pay, is calculated, which represents the actual amount that the employee will receive in their paycheck.
5. Payment Disbursement and Record-Keeping: Once the net pay has been calculated, the final step involves disbursing the payments to employees through various payment methods, such as direct deposit or physical checks. Additionally, meticulous record-keeping of payroll data is essential for maintaining accurate financial records and complying with legal and regulatory requirements.
We provide payroll management services to organisations across various industries some of which are:
- Construction/Real Estate
- Oil and Gas
- Manufacturing
- Transport
- Information and Telecommunications Technology
- Healthcare
- Agriculture
- Service Industries