What is tenseki in SAP PY-JP - Japan?

SAP Term: tenseki

• Component: PY-JP

• Component Name: Japan

• Description: A process to loan own company's employees to other companies for a long term, which are often affiliates of their domicile company. It changes employee's main contract.

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• Key Concepts: 
  Tenseki is a Japanese payroll component of the SAP ERP system. It is used to calculate and manage payroll for employees in Japan. It includes features such as calculating taxes, deductions, and other payroll-related items. It also provides reporting capabilities to help employers comply with Japanese labor laws. 
  
  How to use it: 
  To use Tenseki, employers must first enter employee information into the system. This includes basic information such as name, address, and date of birth. Employers must also enter salary information, such as base salary, overtime pay, and bonuses. Once this information is entered, Tenseki will calculate taxes and deductions based on the employee’s salary and other factors. The system will then generate reports that can be used to comply with Japanese labor laws. 
  
  Tips & Tricks: 
  When entering employee information into Tenseki, it is important to double-check all entries for accuracy. This will ensure that the system calculates taxes and deductions correctly. Additionally, employers should review the generated reports regularly to ensure compliance with Japanese labor laws. 
  
  Related Information: 
  Tenseki is part of the SAP ERP system, which is a comprehensive enterprise resource planning (ERP) solution for businesses of all sizes. Other components of the SAP ERP system include financials, human resources, supply chain management, and analytics.