What is income fully-labor-disabled workers income provision act in SAP PY-NL - The Netherlands?

SAP Term: income fully-labor-disabled workers income provision act

• Component: PY-NL

• Component Name: The Netherlands

• Description: Part of the WIA law, which supports the employees who become fully labor disabled 'Inkomensvoorziening Volledig Arbeidsongeschikte'. . ,,

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• Key Concepts: 
  The Income Fully-Labor-Disabled Workers Income Provision Act (PY-NL The Netherlands) is a law that provides income support to workers who are fully disabled due to labor-related injuries or illnesses. This law is specific to the Netherlands and is administered by the Social Insurance Bank (SVB). 
  
  How to use it: 
  Employers in the Netherlands are required to pay a portion of their employees’ wages into the SVB, which is then used to provide income support for workers who are fully disabled due to labor-related injuries or illnesses. Employers must also provide information about their employees’ wages and other relevant information to the SVB. 
  
  Tips & Tricks: 
  Employers should ensure that they are compliant with the Income Fully-Labor-Disabled Workers Income Provision Act (PY-NL The Netherlands) by paying the required portion of their employees’ wages into the SVB and providing the necessary information about their employees’ wages and other relevant information. 
  
  Related Information: 
  For more information about the Income Fully-Labor-Disabled Workers Income Provision Act (PY-NL The Netherlands), please visit the Social Insurance Bank website at https://www.svb.nl/en/employers/income-fully-labour-disabled-workers-income-provision-act.