Superannuation Configuration
Purpose
This process describes the configurations for Superannuation.
Prerequisites
· You have configured the Pay Scale Grouping for Allowances for the employees. This configuration is required for the system to identify employee eligibility towards Superannuation.
· You have configured the wage types that form the basis for Superannuation, in the table view Processing Classes, Cumulations, and Evaluation Classes (V_512W_D). The Superannuation Basis wage type (/117) stores the basis amount for superannuation.
Process Flow
1. Define the trust(s) in which your company maintains the Superannuation amount. You must define the name of the trust, and the Trust ID
To do so, go to the IMG under Payroll India ® Retirement Benefits ® Maintain Superannuation Trust ID.
The Superannuation ID field of Personal IDs infotype (0185) Superannuation for India subtype (01), displays options as per the Trust IDs that you have configured in this IMG activity.
2. Define the types of contribution for Superannuation, and the wage types associated with the different types of contribution. Contributions to Superannuation can be on a monthly or on an annual frequency.
For more information, refer to the IMG under Payroll India ® Retirement Benefits ® Maintain Superannuation Contrib. Freq. and Related Wage Types.
In the IMG activity, you have the option of creating customer specific wage types for Superannuation. You can do so by copying the following default wage types:
¡ San Contrib -monthly (/3S1) - Stores the monthly superannuation contribution
¡ San Contrib - annual (/3S2) – Stores the annual superannuation contribution
¡ San Prov - sum of split (/3S3) – Stores the sum of splits in the superannuation period
3. Specify the percentage of the Superannuation basis that the system must use for superannuation computations.
To specify the percentage, go to the IMG under Payroll India ® Retirement Benefits ® Define Contribution Rates for Superannuation.
4. Specify the criteria under which an employee becomes eligible for Superannuation.
The processing of Superannuation depends on processing of Bonus also. If an employee has received a bonus, you can specify whether the system must calculate superannuation for the employee in the same payroll period.
Using the Superannuation processing feature (40SAN), you can configure the criteria under which an employee becomes eligible for superannuation, in case of a bonus payment. You can configure the feature using the IMG under Payroll India ® Retirement Benefits ® Maintain Eligibility Details for Superannuation.
Configurations for Retrospective Calculation
If you have configured customer specific wage types in the table view Superannuation-Wagetype Details (V_T7INS5), then you must:
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1. Include the customer specific wage types to the To check whether Superannuation contributions took place rule (INSN).
During a retrospective calculation, based on this rule, the system either imports or does not import the superannuation wage types from the previous results.
To include the wage types to the rule, go to the IMG under Payroll India ® Retirement Benefits ® Check for Superannuation Contributions.
2. Include customer specific wage types to the Passing wage types from ORT to IT for Superannuation Retro rule (IN52).
You might have already contributed towards superannuation in the previous payroll run for the period. In this case, you can set the rule such that the employer need not contribute again, during the retrospective payroll run.
To include customer specific wage types to the rule, go to the IMG under Payroll India ® Retirement Benefits ® Maintain Wagetypes to be passed during Retro Runs.
See also: