It is a common practice and legal requirement in Mexico for employees
to contribute to a savings fund. The interest generated and the contributions made are periodically distributed to the participants
based on contributions made and the investment period defined.
The HRMS-Country version for Mexico has been enhanced by functions that facilitate handling savings fund.
The new function lets the user distribute interest from a savings fund on a payroll period, monthly or yearly basis to participants. It is also possible to accumulate the interest to employee contributions for the next payroll period.
Savings funds can be operated with different calendars at the same time. This new function lets the user change the start date of the investment period and use different calendars for savings funds for each employee group in parallel. This enhancement let the user generate different balances, interest distribution schemes, and savings fund payments for each employee group at the same time.
The Implementation Guide associated to this topic, contains all activities required to set the system according to this legal requirement.