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

SAP Term: employee contribution

• Component: PY-CN

• Component Name: China

• Description: A payment that an employee makes to finance his of her corporate pension plan.

Smart SAP Assistant

• Key Concepts: 
  Employee contribution is a feature of the PY-CN China component of SAP software. It allows employers to make contributions to their employees’ social security accounts, such as pension funds, medical insurance, and housing funds. The employer can also make contributions to the employee’s personal income tax account. 
  
  How to use it: 
  Employers can use the employee contribution feature to make contributions to their employees’ social security accounts. They can also make contributions to the employee’s personal income tax account. The employer can specify the amount of the contribution and the frequency of payments. 
  
  Tips & Tricks: 
  It is important for employers to keep track of their employee contributions in order to ensure that they are compliant with local laws and regulations. Employers should also ensure that they are making timely payments in order to avoid any penalties or fines. 
  
  Related Information: 
  Employee contribution is just one of many features available in the PY-CN China component of SAP software. Other features include payroll processing, tax calculation, and reporting. Employers should familiarize themselves with all of the features available in order to maximize their use of SAP software.