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If you are interested in hiring a remote team in Nigeria, or even just individual remote employees in Nigeria, then you have come to the right place!
Rivermate is an Employer of Record (EOR) that offers Nigeria payroll solutions. As a Nigeria payroll provider, we will cover everything from salary, benefits, employer-to-employee contributions, and especially payroll compliance in Nigeria. We are confident Rivermate’s payroll solutions Nigeria will help you grow as a business—because now, you won’t have to worry about your payroll solutions Nigeria. We take care of everything payroll!
With Rivermate, you can run Nigeria payroll services in just one click—regardless of currency, benefits, insurance, and your local labor laws. Everything is automated. Our priority is for you to focus on your company’s strategy and growth.
Our Rivermate Global Payroll services are made especially for startups and scaleups. We know that startups try to be extra prudent when it comes to choosing a payroll provider, so it is our mission at Rivermate to be your most reliable and cheapest payroll provider option. So if you’re looking for global payroll providers for small businesses, look no further and book a call with us now!
Once you've determined the best Nigeria payroll option for your company, you'll need to collect some information from employees in order to add them to your payroll. Begin by acquiring their personal identification number, tax deduction card, and emergency contact information. When an employee begins working and provides you with their tax deduction card, they become a part of the social security system and are eligible for benefits.
Taxes are a concern for both employees and employers. Employees who earn more than 3,000 N contribute 2.5% of their earnings to the National Housing Fund. The country also has a pension plan to which both employers and employees contribute. Employers contribute 10% of employee monthly wages, and employees contribute at least 8%.
Companies that wish to expand their operations globally have four different payroll options in Nigeria. These payroll options are:
1. Internal Payroll. This payroll option is applicable for already established companies in Nigeria. It includes devoting an entire Human Resources staff to running the company's payroll procedures.
2. Remote Payroll. Smaller firms may lack the capacity to handle their own payroll, but they may add their workers to the parent company's payroll. This action, on the other hand, requires considerable thinking. You must guarantee that you follow the rules and laws of each nation.
Working with a local outsourcing firm is one method to retain money in the local economy, but you'll still need to study all of the local rules and regulations, since you'll be held responsible.
3. Nigeria payroll outsourcing: Outsourcing your payroll to an Employer of Record in Nigeria, such as Rivermate, is another alternative for Andorra payroll outsourcing. We can manage all aspects of your payroll, including compliance. Send us a note and we'll get back to you as soon as possible!
It is the obligation of the employer to ensure that all payroll-related transactions are properly documented and recorded. All salaries and compensation payments must adhere to the local minimum wage as well as other applicable laws and regulations.
Rivermate's payroll services in Nigeria can assist you in staying in compliance with the country's ever-changing payroll rules. We provide an all-inclusive solution that covers everything from compliance and reporting to salary payments.)
Companies that have a business presence in Nigeria have different ways of managing payroll. However, most of the options you have for running payroll in Nigeria are either expensive or require establishing a subsidiary in Nigeria. The cheapest, most efficient, and most reliable payroll processing system in Nigeria is by outsourcing payroll to Employers of Record (EOR) in Nigeria. Rivermate is one of those Employers of Record.
At Rivermate, we offer you the most efficient, most compliant, and cheapest HR and Payroll Management services in Nigeria. We do this by taking care of your payroll-related needs, such as keeping track of your employees’ financial records, including incentives, gross and net salary, and payslips, all the while staying compliant with the labor laws in Nigeria. Because we do your online payroll management for you, you can have absolute focus on your business’ strategy and growth.
Rivermate is all about growth through collaboration and we achieve this by offering the most reliable yet cheapest services for managing payroll for small businesses in Nigeria.
Employment may be terminated at any moment by either the employer or the employee with sufficient notice.
In 2018, the minimum salary was 18,000 NGN per month, however beginning of April 2019, it has increased to 30,000 NGN per month.
Individual or collective bargaining agreements, or the industrial wage board, determine work hours in Nigeria. The typical workweek, on the other hand, is 40 hours with an eight-hour day.
Although public healthcare is accessible in Nigeria, employers often offer supplemental private healthcare insurance.
Pension plans, dental benefits, life insurance, stock options, a vehicle allowance, and a mobile phone are all common perks.