What is low income in SAP SRD-HR-PAY - HCM-Payroll Processing?

SAP Term: low income

• Component: SRD-HR-PAY

• Component Name: HCM-Payroll Processing

• Description: An income which is below a certain limit. If the income of an employee is lower than the low-income limit, the employer must pay the employee's social insurance contribution.

Smart SAP Assistant

• Key Concepts: 
  Low income is a term used in SAP HCM-Payroll Processing to refer to employees who earn a salary below a certain threshold. This threshold is determined by the company and can vary from country to country. The purpose of this threshold is to ensure that employees are not underpaid and that they receive the wages they are entitled to. 
  
  How to use it: 
  In SAP HCM-Payroll Processing, low income is used to identify employees who are earning less than the predetermined threshold. This information can then be used to adjust the employee's salary accordingly. Additionally, it can be used to identify any discrepancies in wages and ensure that all employees are being paid fairly. 
  
  Tips & Tricks: 
  When setting the low income threshold, it is important to consider the local laws and regulations regarding minimum wage. Additionally, it is important to ensure that the threshold is set at a level that will not disadvantage any employees. 
  
  Related Information: 
  Low income is just one of many terms used in SAP HCM-Payroll Processing. Other terms include gross pay, net pay, deductions, and allowances. Understanding these terms and how they interact with each other is essential for successful payroll processing.