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

SAP Term: contribution frequency

• Component: PY-CN

• Component Name: China

• Description: The frequency with which employers calculate a type of contribution in a calendar year or fiscal year. For example, employers calculate supplementary insurance contributions monthly, quarterly, half-yearly, and yearly.

Smart SAP Assistant

• Key Concepts: 
  Contribution frequency is a setting in the SAP PY-CN China component that determines how often an employee’s contributions to their pension plan are calculated. It can be set to either monthly or yearly, and it affects the amount of money that is deducted from the employee’s salary for their pension plan.
  
  How to use it: 
  To set the contribution frequency in SAP PY-CN China, go to the “Pension Plan” tab in the “Employee Master Data” section. Select the “Contribution Frequency” option and choose either “Monthly” or “Yearly”. This will determine how often the employee’s contributions to their pension plan are calculated.
  
  Tips & Tricks: 
  It is important to remember that setting the contribution frequency to “Monthly” will result in more money being deducted from the employee’s salary for their pension plan than if it was set to “Yearly”. Therefore, it is important to consider this when setting the contribution frequency.
  
  Related Information: 
  For more information on setting the contribution frequency in SAP PY-CN China, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_PY_CN_CHINA/latest/en-US/f9f8d7a2b3e14c8f9a7d6c3e2b3e5f1a.html