What is combined contribution limit in SAP PA-BN - Benefits?

SAP Term: combined contribution limit

• Component: PA-BN

• Component Name: Benefits

• Description: A contribution limit that applies to a combination of plans.

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• Key Concepts: 
  Combined Contribution Limit is a feature of the SAP PA-BN Benefits module that allows employers to set a limit on the total amount of contributions that can be made to an employee’s benefits plan. This limit is set by the employer and applies to all contributions made to the employee’s benefits plan, including employer contributions, employee contributions, and any other contributions. 
  
  How to Use It: 
  The Combined Contribution Limit feature can be accessed through the SAP PA-BN Benefits module. To set a limit, employers must first enter the total amount of contributions they wish to limit. This amount can be adjusted at any time. Once the limit is set, employers can then enter the individual contribution amounts for each benefit plan. The total of all contributions must not exceed the Combined Contribution Limit. 
  
  Tips & Tricks: 
  When setting a Combined Contribution Limit, employers should consider their budget and the needs of their employees. Employers should also consider any legal or regulatory requirements that may apply to their business when setting a limit. 
  
  Related Information: 
  The Combined Contribution Limit feature is part of the SAP PA-BN Benefits module, which provides employers with a comprehensive suite of tools for managing employee benefits plans. The module also includes features such as eligibility rules, benefit plan administration, and reporting capabilities.