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

SAP Term: employer contribution

• Component: PY-CN

• Component Name: China

• Description: A payment that an employer makes to finance an employee’s corporate pension plan.

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• Key Concepts: 
  Employer contribution is a payment made by an employer to an employee's pension plan or other retirement savings plan. In the context of SAP PY-CN China, employer contribution is a payment made by the employer to the employee's pension plan or other retirement savings plan in accordance with the relevant regulations of the People's Republic of China. 
  
  How to use it: 
  In SAP PY-CN China, employers can make contributions to their employees' pension plans or other retirement savings plans. Employers can set up a separate account for each employee and make contributions to that account. The contributions are then used to fund the employee's pension plan or other retirement savings plan. 
  
  Tips & Tricks: 
  It is important for employers to ensure that they are making contributions in accordance with the relevant regulations of the People's Republic of China. Employers should also ensure that they are making contributions in a timely manner and that they are making sufficient contributions to meet their employees' needs. 
  
  Related Information: 
  Employers should consult with their legal advisors to ensure that they are making contributions in accordance with the relevant regulations of the People's Republic of China. Additionally, employers should consult with their financial advisors to ensure that they are making sufficient contributions to meet their employees' needs.