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creating the pension Wage Type

Dec 08, 2016 at 09:27 AM

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Dear Team,

One of our Indian Clients, creating the pension trust for employees (Optional for employees) which is dependable on the Basic salary i.e. Monthly Pension = Basic * 10%

Exemption of annual Pension amount 1.5 L i.e. if amount is greater than 1.5 L then the rest amount is taxable.

(Requirement is similar to New Pension scheme NPS for Employee).

Please suggest!

Thank you!

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1 Answer

Rémi Corriveau Dec 08, 2016 at 05:56 PM
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Look into table T512T for India if there is a Model WT that corresponds to your needs.

Will that Pension Plan option be maintained through IT0169 or through IT0014? Creating it as an Optional Pension Plan would require about the same configuration as your current Pension Plan, while creating it as a Periodic Deduction will require you to create at least one pcr to calculate the Amount of the deduction and to assign a V0 Split for Third Party Remittances.

You can use table view V_512W_O to compare your current Pension Deduction WT to a "regular"Deduction WT (one that is not a Benefit Deduction). Test copying each of these WTs to see which Tables would be affected and which would require manual maintenance.

Note that if IT0014

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