How do I setup an income protection/PHI fund/scheme?

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 > Administer Payroll Funds > Income Protection/PHI


Step 2: Create the related component on company level before linking it to an employee/s.

      Navigate > Configuration > Payroll > Payroll Config > Payroll Components

      

      

    • Related Articles

    • 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 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 ...

    • 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 ...

    • 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 ...