Set Up Recovery Rates

Specific rates of recovery and compensation a person is entitled to, needs to be configured in the application, based on the company size.

There are different rates of recovery and compensation. The rate you are entitled to is based on the size of the company. There are two rates: Full (103%) and Partial (92%). By default, if the recovery type is blank, no recovery or compensation is calculated.

Perform the following steps to set up the recovery type:

1. In the My Enterprise work area, select Setup and Maintenance > Manage Legal Entity for HCM Information.
2. In the Search Tasks box, select Legal Reporting Unit Calculation Card and click Search.
3. Click Legal Reporting Unit Calculation Card from the list of tasks.
4. Click Select and Add to set the scope of the Legal Reporting Unit.
5. Click Apply and Go to Task.
6. In Calculation Card, click Actions > Create.
7. In the Create Calculation Card window, select the effective date and 'Statutory Payments' as the Name.
8. Click Continue.
9. In the Statutory Payments page, in the Calculation Component Details section, click Statutory Payments Recovery.
10. Select the relevant options from the Statutory Payments Recovery Type list. The available options are:
    • Full
    • None
    • Partial
11. Click Save and Close.