Write a Fast Formula for Commuted Pension
You can write your own custom logic in the fast formula to calculate the commuted pension amount.
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Navigate to: Payroll > Fast Formulas.
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Click Create and enter the formula name: XXCUST_INDIA_COMMUTED_PENSION_CALCULATION_FF
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Enter the Type: Oracle Payroll
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Enter additional details like Description, Legislative Data Group, Effective Start Date, and click Continue.
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Write the formula text in the Formula Text editor that opens.
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Click Submit.
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Compile the formula and verify that there are no errors.
/******************************************************************************
$Header:
* Formula Name: XXCUST_INDIA_COMMUTED_PENSION_CALCULATION_FF
* Description: Custom Commuted Pension Calculation Formula for India Localization
***********************************************************************************************/
/* The formula should have the below three return values.
l_commuted_pension_payable -- Corresponds to input value : Amount Paid
l_total_commuted_pension -- Corresponds to input value : Total Pension Amount
l_percentage_total_pension -- Corresponds to input value : Percentage of Total Pension
*/
l_commuted_pension_payable = -1
l_total_commuted_pension= -1
l_percentage_total_pension = -1
/* Begin Custom logic */
l_commuted_pension_payable = -1
l_total_commuted_pension = 4000000
l_percentage_total_pension = 40
/*Custom logic End*/
return /* Use the below return variables*/
l_commuted_pension_payable,
l_total_commuted_pension,
l_percentage_total_pension
Results:
The formula returns the values for Amount Paid, Total Pension Amount and Percentage of Total Pension.