What is sickness benefit act in SAP PY-NL - The Netherlands?

SAP Term: sickness benefit act

• Component: PY-NL

• Component Name: The Netherlands

• Description: A law that regulates the payments of sick employees. In the Netherlands, the law is known as 'Ziektewet'.

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• Key Concepts: 
  The Sickness Benefit Act (Ziektewet) is a Dutch law that provides employees with a financial benefit when they are unable to work due to illness or disability. This law applies to all employees in the Netherlands, regardless of their nationality. The Sickness Benefit Act is administered by the Social Insurance Bank (SVB). 
  
  How to use it: 
  In SAP, the Sickness Benefit Act is implemented in the PY-NL The Netherlands component. This component allows employers to calculate and pay out sickness benefits according to the Dutch law. It also allows employers to manage employee records and track employee absences due to illness or disability. 
  
  Tips & Tricks: 
  When using the PY-NL The Netherlands component, it is important to ensure that all employee records are up-to-date and accurate. This will help ensure that employees receive the correct amount of sickness benefits in accordance with the law. 
  
  Related Information: 
  For more information about the Sickness Benefit Act, please visit the website of the Social Insurance Bank (SVB): https://www.svb.nl/en/sickness-benefit-act