Provident Fund Contribution Infotype (0587) 

Definition

This object stores the Provident Fund information of an employee.

Use

Use the Provident Fund Contribution Infotype (0587) to capture the Provident Fund (PF) information of an employee. In this infotype you can capture details on the PF, Pension Fund and VPF.

While processing payroll, the system obtains PF information from this infotype.

 Structure

·        In General Information section of the infotype, you can maintain the following information

¡        Provident Fund Trust ID and Pension Trust ID - In these options you select the PF and the Pension trust for the employee. The different PF and Pension Fund Trusts displayed here depend on the configurations that you have set in the table view Trust Master (V_T7INF1).

To configure the PF and Pension Fund trust details go to the IMG under Payroll India   ® Statutory Social Contributions ®  Provident Fund  ® Define Trust Details for PF.

¡        Provident Fund Number and Pension Fund Number of the employee in the PF and Pension Fund trusts.

·        In the Provident Fund section of the infotype, you can maintain the following information:

¡        Percentage or the amount that an employee wishes to contribute, on a monthly basis, towards a Voluntary Provident Fund (VPF).

¡        Basis that the system must take as the PF contribution from the employee. You have the option of selecting the minimum of Eligible Pay of the employee or the PF basis of the employee as the basis for contribution. You can also, instead, choose to select the PF basis salary as the basis for contribution.

The PF basis can be configured, and can have different elements in it, such as the Basic Salary and Dearness Allowance. If needed, you can also configure other pay elements. The EPF Basis Wage Type (/111) stores the basis for PF contribution.

The PF Eligible Pay Constant (PFBAS) stores the Eligible Pay of the employee. You can maintain the constant using the table view Payroll Constants (V_T511P).

·        In the Employer's Details section, you can select whether the PF contribution basis for the employer should be the minimum of the Eligible Pay of the employee or the PF Basis of the employee. The options are similar to the options that you select for an employee contribution, in the Provident Fund section.

·        In the Pension section, you can select the basis for the employer contribution towards the employee Pension fund. The Pension fund contribution of the employer can be the minimum of the Eligible Salary of the employee or the PF basis of the employee. The options are similar to the options that you select for an employee contribution, in the Provident Fund section.

See also:

Provident Fund