Payroll Funds Setup
Payroll Funds Setup | Disability Lumpsum Setup
About Employer-owned insurance policies should be setup as a Payroll Fund. The Disability Lumpsum needs to be configured before the components for the Disability Lumpsum can be created. Once the components has been added, it can be linked on the ...
How do I set up the Provident Fund components?
This feature is available on all PaySpace editions Once the Provident fund has been created, the corresponding employee deduction and company contribution components have to be set up on company level before linking them to employees. Step 1: Search ...
How do I set up Pension Fund components?
This feature is available on all PaySpace editions Once a Pension fund has been created, the corresponding employee deduction and company contribution components have to be set up on company level before linking the components to employees. Step 1: ...
How do I create a Provident Fund on company level?
This feature is available on all PaySpace editions Provident funds have to be created on company level before they can be linked to their respective employees. Navigate > Configuration > Payroll > Administer Payroll Funds > Pension and Provident ...
How do I setup an income protection/PHI fund/scheme?
This feature is available on all PaySpace editions Follow the below steps to set up an Income Protection/PHI fund/scheme. Step 1: Create the fund on company level on the Income Protection/ PHI Setup screen. Navigate > Configuration > Payroll > ...
How do I set up a disability lumpsum scheme as an approved scheme?
This feature is available on all PaySpace editions To set up a Disability Lumpsum scheme as an approved scheme, enable the "approved scheme?" checkbox when creating or editing the scheme. Navigate > Configuration > Payroll > Administer Payroll Funds ...
How do I set up a group life scheme as an approved scheme?
This feature is available on all PaySpace editions To set up a Group Life scheme as an approved scheme, enable the "approved scheme?" checkbox when creating or editing the scheme. Navigate > Configuration > Payroll > Administer Payroll Funds > Group ...
Can I delete a provident fund instance that is no longer applicable?
This feature is available on all PaySpace editions No. Provident fund instances cannot be deleted if they have financial dependencies (i.e. linked to payslips). A new instance with the latest fund information will have to be created, by enabling the ...
Can I delete a pension fund instance that is no longer applicable?
This feature is available on all PaySpace editions No. Pension fund instances cannot be deleted if they have financial dependencies (i.e. linked to payslips). A new instance with the latest fund information will have to be created, by enabling the ...
Can I delete a group life instance that is no longer applicable?
This feature is available on all PaySpace editions No. Group Life instances cannot be deleted if they have financial dependencies (i.e. linked to payslips). A new instance with the latest fund information will have to be created, by enabling the "is ...
How do I set up the group life components?
This feature is available on all PaySpace editions Once the Group Life scheme has been created, the corresponding employee deduction and company contribution components have to be set up on company level before linking them to employees. Step 1: ...
How do I delete duplicate group life instances?
This feature is available on all PaySpace editions A duplicate group life instance can be deleted if it has no financial dependents. Navigate > Configuration > Payroll > Administer Payroll Funds > Group Life Setup Contact support@payspace.com if the ...
How do I delete duplicate Pension or Provident Fund instances?
This feature is available on all PaySpace editions A duplicate Pension or Provident Fund instance can be deleted if there are no financial dependencies. Navigate > Config > Payroll > Administer Payroll Funds > Pension And Provident Setup Contact ...
How do I create a Pension Fund on company level?
This feature is available on all PaySpace editions Pension funds have to be created on company level before they can be linked to Employees. Navigate > Config > Payroll > Administer Payroll Funds > Pension and Provident Setup Related FAQ How do I set ...
How do I create a group life scheme on company level?
This feature is available on all PaySpace editions Employer-owned insurance policies, such as a Group Life Policy, where the company contributes on behalf of their employees, should be set up as a Payroll Fund. Navigate > Configuration > Payroll > ...
Payroll Funds Setup | Income Protection Policy and PHI Scheme Setup
About Employer-owned insurance policies, such as an Income Protection Policy or Personal Health Insurance Scheme, where the company contributes on behalf of their employees, should be set-up as a Payroll Fund. The Income Protection Policy or PHI ...
Payroll Funds | Medical Aid Scheme Setup
Overview A variety of Medical Aid Schemes are available to choose from on the Medical Aid Setup screen. You can select and configure the relevant scheme according to the company’s requirements. The Medical Aid Scheme needs to be configured before the ...
Payroll Funds | Group Life Setup
Overview Employer-owned insurance policies should be setup as a Payroll Fund. The Group Life policy needs to be configured before the components for the Group Life policy can be created. Once the components have been added, it can be linked on the ...
Payroll Funds Setup | Pension and Provident Fund Setup
About A variety of Pension and Provident Funds are available to choose from on the Pension and Provident Setup Screen. You can select and configure the relevant funds according to the company’s requirements. The Pension or Provident Fund needs to be ...