What is FSS Credit Scheme in SAP PY-RU - Russia?

SAP Term: FSS Credit Scheme

• Component: PY-RU

• Component Name: Russia

• Description: A scheme of interaction with FSS Social Insurance Fund of the n Federation that credits social insurance SI payments made by an organization to its employees to the account of the organization. These payments are deducted from the organization’s social tax liability. If an organization is included in the Credit Scheme, the organization makes SI payments to employees as part of payroll, and provides reports to FSS to credit those payments.

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• Key Concepts: 
  The FSS Credit Scheme Component (PY-RU Russia) is a payroll feature in SAP that allows employers to provide employees with a tax-free credit for certain expenses. This credit is provided by the Federal Tax Service (FSS) of the Russian Federation and is available to employees who meet certain criteria. The credit can be used to cover expenses such as medical bills, education costs, and other approved expenses. 
  
  How to Use It: 
  To use the FSS Credit Scheme Component, employers must first register with the FSS and obtain a certificate of registration. Once registered, employers can then set up the FSS Credit Scheme Component in SAP. This includes setting up the credit parameters, such as the amount of credit available and the criteria for eligibility. Employers can also set up the payment process for the credit, including how it will be paid out to employees. 
  
  Tips & Tricks: 
  When setting up the FSS Credit Scheme Component in SAP, it is important to ensure that all of the parameters are correctly configured. This includes setting up the correct payment process and ensuring that all of the criteria for eligibility are met. Additionally, employers should ensure that they are compliant with all applicable laws and regulations when using this component. 
  
  Related Information: 
  For more information on the FSS Credit Scheme Component, employers should consult with their local tax authorities or contact SAP support. Additionally, employers can find more information on this component in SAP’s online help documentation.