What is Work and Income Act in SAP PY-NL - The Netherlands?

SAP Term: Work and Income Act

• Component: PY-NL

• Component Name: The Netherlands

• Description: Work and income according to labour capacity act.

Smart SAP Assistant

• Key Concepts: 
  The Work and Income Act (WIA) is a Dutch law that regulates the labor market in the Netherlands. It was introduced in 2006 and is applicable to all employers and employees in the country. The WIA is part of the Social Security Act (SSA) and is administered by the Social Insurance Bank (SVB). The PY-NL component of SAP is a software module that helps employers comply with the WIA. 
  
  How to use it: 
  The PY-NL component of SAP helps employers comply with the WIA by providing them with tools to manage their payroll, employee benefits, and other related tasks. It also provides employers with information about the WIA, such as the applicable regulations and deadlines. Additionally, it allows employers to generate reports that are required for compliance with the WIA. 
  
  Tips & Tricks: 
  When using the PY-NL component of SAP, it is important to ensure that all data entered into the system is accurate and up-to-date. Additionally, employers should regularly review their payroll and employee benefits to ensure they are compliant with the WIA. 
  
  Related Information: 
  For more information about the Work and Income Act, please visit the website of the Social Insurance Bank (SVB): https://www.svb.nl/en/employers/work-and-income-act