Create Elements for Voluntary Deductions for Saudi Arabia
Voluntary deductions are those that an employee chooses to pay from their salary instead of making the payments directly. The deductible amount is either a fixed amount or a percent of the total earnings during a payroll run.
- Loans
- GOSI Arrears
Loans
The Loan element for Saudi is created for the primary classification Voluntary Deductions and the secondary classification Loan.
Loan approval, processing and payments are outside the scope of payroll process. The payroll process only supports the loan recoveryprocess. Since the loan is interest free, there is no need for interest calculation.
The element that is created through the element template is the loan recovery element. Multiple loan recovery elements can be createdif the enterprise has several types of loans.
GOSI Arrears
Arrears management for GOSI and Saned can becreated for Saudi Arabia using the primary classificationVoluntary Deductionsandthe secondary classificationsGOSI Arrears or Saned Arrears.