Frequency with Compensation Rates
When you associate frequency with compensation rates, you define the time period on which the compensation is based. For example, you might state a worker's base salary as 60,000 a year (annual frequency) or 5,000 a month (monthly frequency). When you associate these compensation rates with jobs, positions, salary steps, or individual job records, the system uses the annualization factor that is associated with this frequency to convert the compensation to other frequencies.
When you set up PeopleSoft Human Resources, you can define default compensation frequencies at several levels. You can usually change that default value when the system enters it into other pages.
This table lists important pages on which compensation frequencies are either specified or used:
| Component or Page | Default Compensation Frequency Value |
|---|---|
|
Default Frequencies page (DFLT_FREQUENCY) |
Specify default frequencies for each country and specify the order in which the system uses them to display base pay compensation in the Pay Rates group box on the Compensation page of the Job Data component. |
|
Compensation page (JOB_DATA3) of the Job Data component (JOB_DATA) |
Displays base pay compensation information in the frequencies that are specified for the country on the Default Frequencies page |
|
HCM Options page (INSTALLATION_TBL1B) of Installation Table component (INSTALLATION_TBL) |
Set a default compensation frequency and a default work period for your organization. The system enters these default values in the Job Code table. |
|
Job Code Profile page (JOBCODE_TBL1_GBL) of Job Code component (JOB_CODE_TBL) |
Default compensation frequency and default work period values are taken from the Installation table. |
|
Comp Rate Code Table component (COMP_RATECD_TBL) |
Specify rate code frequencies on the Comp Rate Code table. The system enters these default values when you select the rate code in a pay components group box (found on a number of pages in PeopleSoft HCM). You can also specify here whether the FTE (full-time equivalency) calculation should be applied to the compensation associated with the rate code. |
|
Define Salary Plan component (SALARY_PLAN_TABLE) |
Specify default frequency for components of pay assigned to salary steps. |
|
Pay Group Table component (PAYGROUP_TABLE) |
Specify daily and monthly frequencies for the pay group. The system uses the frequency information to calculate pay rates. |