What is 'national insurance' in SAP SRD-HR-PAD - HCM-Personnel Administration?

national insurance - Overview

• Component: SRD-HR-PAD

• Component Name: HCM-Personnel Administration

• Description: A contribution paid by employees in the UK, which entitles them to certain social security benefits, including the state pension.

national insurance - Details

• 
  Key Concepts: 
  National Insurance is a system of taxes and contributions paid by employers and employees in the UK. It is used to fund state benefits, such as the State Pension, and other social security payments. It is administered by HM Revenue & Customs (HMRC).
  
  How to use it: 
  In SAP, National Insurance is managed through the SRD-HR-PAD HCM-Personnel Administration component. This component allows employers to set up and manage their National Insurance contributions for their employees. It also allows employers to view their employees' National Insurance contributions and make any necessary adjustments.
  
  Tips & Tricks: 
  When setting up National Insurance contributions in SAP, it is important to ensure that all of the relevant information is entered correctly. This includes the employee's name, address, date of birth, and National Insurance number. It is also important to ensure that the correct tax codes are used for each employee.
  
  Related Information: 
  For more information on National Insurance in SAP, please refer to the official SAP documentation on SRD-HR-PAD HCM-Personnel Administration. Additionally, you can find more information on National Insurance on the HMRC website.