What is 'withdrawal lump-sum benefits' in SAP PY-JP - Japan?

withdrawal lump-sum benefits - Overview

• Component: PY-JP

• Component Name: Japan

• Description: Benefits payable as a lump sum to the participant of a retirement benefits plan, when the participant withdraws from the plan.

withdrawal lump-sum benefits - Details

• 
  Key Concepts: 
  Withdrawal lump-sum benefits are a type of payment made to employees in Japan when they leave their job. This payment is calculated based on the employee's length of service and salary. It is a one-time payment and is not subject to taxation. 
  
  How to use it: 
  In SAP, withdrawal lump-sum benefits are calculated using the PY-JP Japan component. This component allows you to enter the employee's length of service and salary, and then calculates the amount of the lump-sum benefit. 
  
  Tips & Tricks: 
  When calculating withdrawal lump-sum benefits, make sure to enter the correct length of service and salary for the employee. This will ensure that the correct amount is calculated. 
  
  Related Information: 
  For more information on withdrawal lump-sum benefits, please refer to the SAP Help documentation for PY-JP Japan.