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PY-TW Creating Labor Insurance (LI) Details 
Prerequisites
You must setup the respective rates before entering data in the record.
For more information, see Labor Insurance (LI) section of the Implementation Guide (IMG).
Procedure
To setup a record for LI contributions in Labor Insurance infotype (0354):
Results
LI records are created for the employee. These enable the payroll to calculate the LI contributions.
Example
According to the reference table issued by the LI bureau, for an employee with class '21' the LI amount and contribution rates are as follows:
Employee LI premium: | |
Formula : |
LI insured amount * LI rate * employee contribution rate NT$40,100 * 6.5% * 20% = NT$521 |
Employer LI premium: | |
Formula : |
LI insured amount * LI rate * employer contribution rate NT$40,100 * 6.5% * 70% = NT$1,825 |
