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 employees' Recurring Payroll Component screen.
Edition
This feature is available on all PaySpace editions
Navigation
Navigate > Config > Payroll > Administer Payroll Funds > Group Life Setup
Details
An extract of the Group Life Setup screen
Payroll Components
Once the Group Life policy has been setup, you will then need to create the Group Life Employee Deduction and the Group Life Employer Contribution components. The Group Life policy can then be linked to the employee on the Recurring Payroll Components screen on employee level.
Navigate > Config > Payroll > Payroll Config > Payroll Components
Extract of the Payroll Component Catalogue
Related Articles
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 ...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 ...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: ...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 ...