What is pension fund rule in SAP PY-CN - China?

SAP Term: pension fund rule

• Component: PY-CN

• Component Name: China

• Description: A rule that a company and its employees agree upon to govern the operation of a pension plan.

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• Key Concepts: 
  Pension fund rule is a feature of the SAP PY-CN China component that allows employers to manage their pension funds. It enables employers to set up and manage pension funds for their employees, as well as to track and report on the contributions made by both the employer and the employee. 
  
  How to Use It: 
  To use the pension fund rule, employers must first set up a pension fund in the SAP system. This can be done by entering the details of the fund, such as its name, type, and contribution rate. Once the fund is set up, employers can then enter employee information into the system, such as their name, date of birth, and salary. The system will then calculate the contributions that need to be made by both the employer and employee. 
  
  Tips & Tricks: 
  When setting up a pension fund in SAP PY-CN China, it is important to ensure that all of the information entered is accurate. This will help ensure that contributions are calculated correctly and that all relevant taxes are paid on time. Additionally, it is important to regularly review and update the information in the system to ensure that it remains up-to-date. 
  
  Related Information: 
  The pension fund rule is part of the SAP PY-CN China component, which also includes features such as payroll processing, tax calculation, and social security management. Additionally, there are other components within SAP that can be used to manage pension funds, such as PY-US United States and PY-UK United Kingdom.