The fringe benefit component will calculate based on the company contribution to the Pension/Provident Fund.
DC Fund: Fringe Benefit = Pension Employer Contribution
DB/Hybrid Fund: Fringe Benefit = (A X B) - C
A: Category factor provided by the fund
B: Retirement Funding Income (which is set up on the Pension and Provident Setup Screen, found under Config > Administer Payroll Funds)
C: Actual employee contribution (excluding any additional voluntary contributions)
Considerations:
If the “Is this employee retired?” checkbox is activated on the employee’s Basic Profile Screen, then the fringe benefit will not
calculate.
If a DB/Hybrid fund is added as an ‘In Package’ deduction and automatically converts to a company contribution, and a company contribution is added, two fringe benefits will calculate, one on each of the company contributions.