Payroll & Statutory Remittance - A Step-by-Step Guide for SMEs
For many small and medium-sized businesses, payroll feels like a monthly mountain to climb - endless calculations, deadlines, and statutory deductions. But it doesn’t have to be this way. With the right process and the right partner, you can transform payroll from a source of stress into a well-oiled system that runs smoothly every month. This guide walks you through how to achieve that, and how Rovedana makes it easy.
Before anything else, accuracy starts with clean employee data. We review your records to ensure all employee details - names, tax identification numbers (TIN), pension PINs, salary structures, and allowances, are correct. Mismatched or outdated data is one of the biggest causes of payroll errors. Rovedana’s automated employee data validation flags missing or inconsistent details before payroll is processed. We also synchronize with statutory agencies like FIRS and PENCOM to ensure compliance and data accuracy across platforms.
Rovedana ensures employee productivity, compliance, accuracy, and peace of mind. With Rovedana, you get a team of HR experts. Whether you prefer full outsourcing or hybrid management, our process simplifies payroll calculations and smooth operations by providing round-the-clock support, and handling the paperwork.
Every employee’s deductions must align with current statutory laws. We ensure PAYE, pension, NHF, NSITF, and ITF contributions are correctly mapped and calculated. At Rovedana, we combine technology automation with human expertise to avoid errors and comply with remittance deadlines. This means no more guessing or recalculations - every deduction is accurate, timely, and compliant.
Reporting is not just about numbers - it’s your proof of compliance. We provide monthly payrolls, quarterly and annual reports to help you stay audit-ready. HR records can easily be stored for years, ready for use whenever you need them.
Step 5: Continuous Review and Improvement
Payroll and compliance laws change often. Rovedana helps you stay informed about new FIRS circulars, PENCOM updates, changes to employee benefit rules, etcetera. Partnering with Rovedana means you never have to worry about missing an update. Our compliance experts continuously monitor regulatory changes and update your payroll system automatically - keeping your business fully compliant without any effort or worry on your part.
When payroll, statutory remittances and other HR functions run smoothly, your team can focus on strategy, rather than battling with spreadsheets or updating software.
Once you have day-to-day in check, your business scales faster through operational stability, real-time visibility, team and financial growth.