What is social insurance contributions in SAP PY-RU - Russia?

SAP Term: social insurance contributions

• Component: PY-RU

• Component Name: Russia

• Description: The payments in to cover the state pension, social welfare, and medical care. In , employers make social insurance contributions based on their employees’ salaries. The contributions comprise the following parts: Pension Fund Social insurance Medical insurance federal part Medical insurance territorial or regional part

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• Key Concepts: 
  Social insurance contributions are payments made by employers and employees to the government in order to fund social security programs. In Russia, these contributions are managed by the Pension Fund of the Russian Federation (PFRF). Employers are required to make monthly payments to the PFRF, which are then used to fund pensions, health insurance, and other social benefits. 
  
  How to use it: 
  In SAP, employers can manage their social insurance contributions using the PY-RU Russia component. This component allows employers to calculate their contributions, submit payments, and track their contributions over time. It also provides detailed reports on the status of each contribution. 
  
  Tips & Tricks: 
  When making payments to the PFRF, employers should ensure that they are submitting accurate information. This will help avoid any delays or penalties that may be incurred due to incorrect information. Additionally, employers should keep track of their contributions over time in order to ensure that they are up-to-date with their payments. 
  
  Related Information: 
  For more information on social insurance contributions in Russia, please visit the Pension Fund of the Russian Federation website at https://www.pfrf.ru/en/. Additionally, SAP provides detailed documentation on how to use the PY-RU Russia component at https://help.sap.com/viewer/product/SAP_ERP_HCM/6.0_RU/en-US.