Define Group Insurances
OBJECTIVE
The Define Group Insurances function is used to manage hourly group insurance with a maximum of applicable hours.
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The code created must be associated with the employee in Employee Management, in the Payroll Information tab. These settings are used to calculate the payroll for employees for which a group insurance code is associated. |
PREREQUISITE
Steps
Creating a Group Insurance Record
- Enter the required information:
The Configuration icon is used to define entry options for the Code field.
Field
Description
Code
Group insurance code.
French Description
French description of the group insurance record.
English Description
English description of the group insurance record.
Insurance Deduction Account
Liability account. If no value is entered, the system uses the deduction account for group insurance in general payroll settings.
Number of Hours
Maximum number of hours for using weekly deductions.
NOTE: If no value is entered, the system calculates the amounts using the weekly portion and the number of hours in the pay, multiplied by the rate in the hourly section.
NOTE: If the number of hours in the pay exceeds the value entered, the system calculates the amount using only the weekly portion.
NOTE: If the number of hours in the pay is lower than the value entered, the system calculates the amount using the number of hours in the pay multiplied by the rates in the hourly section.
- Enter the required information in the Main Fields tab:
- Weekly section:
Field
Description
Employee
Amount.
Employer
Amount.
Taxable portion of insurance
Taxable portion of the gross amount, by government level, based on the contribution.
NOTE: This information is usually provided by the insurer.
Amount of Tax Deduction
Available values:
Provincial/State
Provincial or state tax deduction.
Federal
Federal tax deduction.
- Hourly section
Field
Description
Employee
Employee's insurance contribution rate per hour and hourly/weekly maximum employee contribution rate.
Employer
Employer's insurance contribution rate per hour and hour/weekly maximum employer contribution rate.
Tax Portion of Insurance
Available values:
Provincial/State
Provincial/State taxable insurance rate.
Federal
Federal taxable insurance rate.
Rate of Tax Deduction Available values:
Provinctial/State
Provincial/State insurance tax deduction rate.
Federal
Federal insurance tax reduction rate.
These values are displayed in the Payroll Information tab, Group Insurance section of the Employee Management option.
- Click Save.
See also: