Setting Up Statutory Rates
To set up statutory rates, use the Statutory Rates ESP component (GPES_STATUTORY).
This topic provides an overview of statutory rates and discusses how to set up statutory rates.
Page Name |
Definition Name |
Usage |
---|---|---|
GPES_STATUTORY |
Enter the statutory rates for the minimum salary, interest rate for employee loans, and percentage of minimum salary that is exempt for tax and social security contributions. |
PeopleSoft Global Payroll for Spain delivers statutory rates for:
Minimum employee salaries.
Interest charged on employee loans.
Percentage of travel expenses and the dietas earning that are exempt from tax and social security.
These rates are defined by the government. PeopleSoft Global Payroll for Spain delivers and maintains these rates as system data.
Use the Statutory Rates page (GPES_STATUTORY) to enter the statutory rates for the minimum salary, interest rate for employee loans, and percentage of minimum salary that is exempt for tax and social security contributions.
Navigation:
This example illustrates the fields and controls on the Statutory Rates page. You can find definitions for the fields and controls later on this page.
![Statutory Rates page](img/i-cd7d26dn-6b25.png)
Field or Control |
Description |
---|---|
Daily Minimum Salary |
Enter the minimum daily wage established by law. |
Monthly Minimum Salary |
Enter the minimum monthly wage established by law. |
IPREM (Daily) (Indice Publico de Renta de Efectos MĂșltiples) |
Enter a value to use to calculate the daily wage that is exempt from taxes and social security contributions. |
IPREM (Monthly) (Indice Publico de Renta de Efectos MĂșltiples) |
Enter a value to use to calculate the monthly wage that is exempt from taxes and social security contributions. |
Part Time Minimum Salary |
Enter the daily minimum salary for part-time employees. |
Statutory Interest |
Enter the interest rate established by law. You can apply this interest rate or another rate to any employee loan. If you apply a lower rate, the difference is considered salary in kind. |
Excess Pct. over IPREM (excess percentage over Indice Publico de Renta de Efectos MĂșltiples) |
Enter the percent to use to calculate the exempted amount for the public transportation complement and for salary in-kind earnings. |