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author's profile photo Former Member
Former Member

Multiple Insurance premium needs to deduct from empl salary

Hi All,

How to process multiple insurance policy premium deduction from employee salary by maintaining master data. And more over it has to stop based on maturity date of policies.

Please advise on this.....

Appreciate your cooperation..

Regards,

KAmlesh

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2 Answers

  • author's profile photo Former Member
    Former Member
    Posted on Jun 28, 2012 at 02:23 PM

    You setup benefit plans for each insurance policy.

    SPRO>Personnel Management>Benefits>Plans>Health (or other type: insurance, savings, etc)

    Then you define, the options, dependent coverages (single, 2person, family, etc), costs variants and rules and so on.

    Then you go to:

    SPRO>Payroll>Benefits Integration

    And then:

    SPRO>Payroll>Posting to Financial Accounting

    SPRO>Payroll>Posting to 3rd Party Remittance

    **Be sure to set your Benefits Area.

    The deductions will be taken dependent on the master data dates on IT0167, 0168, etc.

    There is a setting in your schema that determines the parameter on which the deductions are taken based on these dates.

    Is that what you needed?

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  • Posted on Jun 28, 2012 at 04:25 PM

    If you set-up many Insurance Plans for that Employee Group (such as Live Insurance, Death & Dismemberment Insurance, Short-Term Disability Insurance, Long-Term Disability Insurance, Dependant Life Insurance), and that they use the same Deduction Model, then all of them will be deducted from the Employee's salary on the same Pay Dates.

    As for stopping based on the "Maturity Date of Policies", you could probably use the Infotype's Validity Dates.

    Insurance Plans are typically on IT0168, but the employee could also have some Health Plans (IT0167), Savings Plans (IT0169) and Miscelaneous Plans (IT0377), all of them being deducted on the same pay.

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