You can set ceilings for employee and employer pension contributions for a pension scheme for each pay period, so that minimum or maximum values are capped at the amounts you set.
To set caps for employee and employer contributions for a pension scheme:
- Click Payroll > Module Setup > Pension Scheme. The Pension Scheme window is displayed, and all the pension schemes set up for your organization are listed.
- Select a pension scheme.
- Click Edit to edit the details for the pension scheme. The Pension Scheme window is displayed
- Click the Controls tab.
- Under PENSION CAP PROPERTIES, select the type (Value Minimum or Value Maximum), and set the cap values for Employer, Employee, and Voluntary contributions. For information, refer to PENSION CAP PROPERTIES.
- Click Save to save the details.
- Click Close to close the Pension Scheme window.
- Click Close to close the Pension Scheme window.