Define caps for employee and employer pension contributions

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:

  1. Click Payroll > Module Setup > Pension Scheme. The Pension Scheme window is displayed, and all the pension schemes set up for your organization are listed.
  2. Select a pension scheme.
  3. Click Edit to edit the details for the pension scheme. The Pension Scheme window is displayed
  4. Click the Controls tab.
  5. 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.
  6. Click Save to save the details.
  7. Click Close to close the Pension Scheme window.
  8. Click Close to close the Pension Scheme window.