What is basic contribution in SAP PY-CN - China?

SAP Term: basic contribution

• Component: PY-CN

• Component Name: China

• Description: A regular payment made by an employer or an employee to finance a corporate pension plan.

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• Key Concepts: 
  Basic contribution is a payroll component in SAP PY-CN China that is used to calculate the amount of money an employee should receive as a contribution from their employer. This amount is based on the employee's salary and other factors such as the number of years they have worked for the company. 
  
  How to use it: 
  In order to use basic contribution, the employer must first enter the employee's salary into SAP PY-CN China. The system will then calculate the amount of basic contribution that should be paid to the employee based on their salary and other factors. The employer can then enter this amount into the payroll system and it will be included in the employee's paycheck. 
  
  Tips & Tricks: 
  It is important to ensure that the correct amount of basic contribution is calculated and paid to the employee. This can be done by double-checking the calculations in SAP PY-CN China before entering them into the payroll system. Additionally, employers should keep track of any changes in salary or other factors that could affect the amount of basic contribution due to an employee. 
  
  Related Information: 
  Basic contribution is just one of many payroll components that can be used in SAP PY-CN China. Other components include overtime pay, bonuses, and allowances. Employers should familiarize themselves with all of these components in order to ensure that their employees are receiving all of the payments they are entitled to.