Payroll Management

1. Monthly Payroll Processing

  • Accurate calculation of salaries, wages, deductions, and net pay.

  • Ensures timely disbursement via bank transfers, checks, or digital wallets.

  • Often integrated with attendance, leave, and performance systems.

2. Statutory Remittance (PAYE, Pension, NHF, NSITF, ITF)

  • PAYE (Pay As You Earn): Monthly tax deductions from employees’ salaries.

  • Pension Contributions: Remittance to employees’ Retirement Savings Accounts (RSA) under PENCOM.

  • NHF (National Housing Fund): Mandatory 2.5% deduction for eligible employees.

  • NSITF (Nigeria Social Insurance Trust Fund): Workplace injury insurance.

  • ITF (Industrial Training Fund): 1% employer contribution for workforce development.

3. Payslip Generation & Distribution

  • Automated generation of digital/printable payslips.

  • Secure delivery via email, HR portals, or mobile apps.

4. Employee Benefits Administration

  • Management of health insurance, gratuity, leave allowances, and other perks.

  • May include flexible benefits programs (e.g., car loans, education support).

5. Overtime and Bonus Payments

  • Calculates extra pay for overtime, shift differentials, and performance bonuses.

  • Ensures compliance with labor laws (e.g., Nigeria mandates 1.5x–2x hourly rate for overtime).

6. Payroll Tax Filing and Reporting

  • Prepares and submits tax documents to FIRS (Federal Inland Revenue Service) and state tax boards.

  • Handles annual returns (e.g., Form A for PAYE reconciliation).

7. Payroll Compliance Audits

  • Reviews payroll records to ensure adherence to labor laws, tax regulations, and company policies.

  • Helps avoid penalties from PENCOM, LIRS, or ITF.

8. Multi-country Payroll (for Expatriates)

  • Manages payroll for employees across different countries, considering:

    • Local tax laws (e.g., U.S. IRS, U.K. HMRC, UAE WPS).

    • Currency exchange and cross-border payments.

    • Social security and expat tax treaties.