What is relevant income in SAP PY-HK - Hong Kong, China?

SAP Term: relevant income

• Component: PY-HK

• Component Name: Hong Kong, China

• Description: Total cash income used to calculate the MPF contribution. It includes any wage, salary, leave pay, fee commission, bonus, gratuity,perquisite or allowance other than a housing allowance or other housing benefits expressed in monetary terms, paid or payable by an employer directly or indirectly to the relevant employee in consideration of his employment under the contract, but does not include severance payment or long service payment.

Smart SAP Assistant

• Key Concepts: 
  Relevant income is a term used in the payroll component of SAP for Hong Kong, China. It is the total amount of income that is subject to taxation and social security contributions. This includes wages, salaries, bonuses, commissions, and other forms of remuneration. 
  
  How to use it: 
  In SAP for Hong Kong, China, relevant income is calculated by adding up all taxable income sources and subtracting any deductions or exemptions. This calculation is used to determine the amount of tax and social security contributions that must be paid by the employee. 
  
  Tips & Tricks: 
  When calculating relevant income in SAP for Hong Kong, China, it is important to ensure that all taxable income sources are included and that any deductions or exemptions are correctly applied. This will ensure that the correct amount of tax and social security contributions are paid. 
  
  Related Information: 
  For more information on relevant income in SAP for Hong Kong, China, please refer to the official SAP documentation.