What is loss of work compensation in SAP PY-CH - Switzerland?

SAP Term: loss of work compensation

• Component: PY-CH

• Component Name: Switzerland

• Description: Compensation for loss of work time.

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• Key Concepts: 
  Loss of Work Compensation (LWC) is a type of social insurance benefit provided by the Swiss government to employees who have suffered a loss of income due to illness, accident, or other disability. It is administered by the Swiss Federal Social Insurance Office (FSIO) and is available to all employees in Switzerland.
  
  How to use it: 
  In SAP, the PY-CH Switzerland component is used to manage the Loss of Work Compensation process. This component allows employers to enter employee data and calculate the amount of compensation due. It also provides reports and other information related to the process.
  
  Tips & Tricks: 
  When entering employee data into SAP, it is important to ensure that all relevant information is included. This includes the employee's name, address, date of birth, and any other relevant information. Additionally, it is important to ensure that all calculations are accurate in order to ensure that the correct amount of compensation is paid out.
  
  Related Information: 
  For more information on Loss of Work Compensation in Switzerland, please visit the Swiss Federal Social Insurance Office website at https://www.bsv.admin.ch/bsv/en/home/sozialversicherungen/arbeitslosenversicherung/arbeitslosenentschaedigung-alv/arbeitslosenentschaedigung-alv.html