OUTSOURCING YOUR PAYROLL TO OUR COMPANY

Our Payroll Management service offers you the following, all rolled into one service pack:

• Designing of your Pay Scale/salary chart
• Designing of your Payroll template
• Monthly management and upkeep of your Payroll
• Management of your Pension benefits for staff benefits and statutory compliance
• Management of your employees Pay-As-You-Earn (PAYE) Tax and statutory compliance
• Management of your National Insurance trust Fund enrolment for staff benefits and statutory compliance.

Our company will:

• Design and manage a payroll system that will ensure smooth, prompt and efficient payment of your employees’ salaries and allowances.
• Be responsible and ensure that your company complies with all statutory remittances and fulfils the legal requirements of Nigeria “pay as you earn taxes” (PAYE) including appropriate deductions and remittances as required by law.
• Establish and manage your Pension scheme as a factor of payroll, ensuring compliance with the statutory deductions, account settings and remittances in compliance with the Nigeria PENCOM Act of 2014 as amended.
• Update the payroll as required regularly based on staff movement such as new hires, exits, promotions, Cost of Living Adjustments (COLA), bonuses, surcharges etc.

ADVANTAGES

 Our payroll outsourcing will offer you the following advantages and business competitiveness:

• Saving your company’s cost – On average you will save 50% of the cost of handling it in-house by not having to hire a payroll specialist or IT professional, provide a serviced and equipped office space for that purpose, or incur personnel cost of any incumbent in that role.
• Peace of mind- Outsourcing your payroll to our company means no monkeying with your money or the money of your employees or government taxes or pension allocations. Every of your kobo is protected. Professional ethics of honesty, transparency and accountability underlie all our actions. We render full, timely accounts and take you through line by line to help you appreciate integrity at best. You get to never worry that any leakages nor sharp practice can be done or concealed.
• Convenience – Passing information such as employees’ work hours, pay rates and wage deductions can be your convenient way to pass the buck and better administer your compensation and benefits program and track payroll expenses.
• Time Saving – Free up your management to have more time to focus on your core mission instead of spending huge time managing payroll.
• Utilize our Expertise –With regular changes in government templates, legislation and rates, it can be hard to keep on top of the latest requirements. As a payroll management company, we know the industry well and will keep your company up-to-date and on top of all the changes at any point in time.
• Offer Direct Deposit – Employees are increasingly demanding direct deposits as using ATMs and not having to make a trip to the bank is an important convenience for them. More importantly for business owners, direct deposit eliminates time-consuming and error-prone paper handling and the need to reconcile individual payroll checks every month. Our payroll management service guarantees direct deposit even for remotely located field employees.
• Avoid Federal and State Revenue Service Penalties – Deductions involved with employee payroll can be complicated, federal tax among them. Our company is better equipped to calculate statutory and employer-charge deductions accurately and consistently and ensure that you are not liable and penalized.
• Avoid Payroll Brain-Drain – Employing an Accountant to do your payroll in-house is risky because if they get a new job, they leave with all their payroll knowledge and techniques. Using our company eliminates the worry of losing your payroll staff because we are an ongoing entity.
• Accountability – Tax regulations are constantly changing and increasing error margins. To remedy this, our company offers services to file federal payroll taxes on behalf of your organization, which alleviates your challenge of knowing the latest tax code, filing deadlines, deposit requirements, tax tables and government forms.
• Financial Reporting – Our Company can offer reports such as summaries on earning statements, payroll by departments, time sheets, expenses and a host of other reports.
• Reduce Stress – Manual payroll can be a headache in the best case and a nightmare in the worst case. Outsourcing payroll eliminates for your organization, a tiresome source of personal and personnel stress stemming from in-house errors or misguided mistakes that can cost the organization money, sanctions and/or reputation.