What is additional fund in SAP SRD-HR-PAY - HCM-Payroll Processing?

SAP Term: additional fund

• Component: SRD-HR-PAY

• Component Name: HCM-Payroll Processing

• Description: An employer-specific social insurance fund. This fund is for employees who are voluntarily insured with a different employer-specific insurance fund.

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• Key Concepts: 
  Additional Funds are a type of payment that is made to an employee in addition to their regular salary. This payment is usually made for a specific purpose, such as a bonus or reimbursement for expenses. It is typically recorded in the payroll system and is subject to taxation.
  
  How to use it: 
  In SAP HCM-Payroll Processing, Additional Funds can be set up and managed in the system. This includes setting up the payment type, amount, and frequency of the payment. The system will then calculate the taxes due on the payment and deduct them from the employee’s salary.
  
  Tips & Tricks: 
  When setting up Additional Funds in SAP HCM-Payroll Processing, it is important to ensure that all relevant information is entered correctly. This includes the payment type, amount, and frequency of the payment. Additionally, it is important to ensure that the taxes due on the payment are calculated correctly.
  
  Related Information: 
  For more information on Additional Funds in SAP HCM-Payroll Processing, please refer to the SAP Help documentation. Additionally, there are many online resources available that provide detailed instructions on how to set up and manage Additional Funds in SAP HCM-Payroll Processing.