Calculation Value Definitions
A calculation value definition specifies how a value is provided or calculated.
The value isn't necessarily monetary. Typically, it's a flat amount or rate, but it could be a date or a text value, such as a tax code, depending on the calculation type. Some definitions hold the values in a table, so that different values apply to different employees.
For example, a graduated tax varies depending on the employee's earnings balance. The calculation value definition for this tax might contain two rows where you define the tax rate for:
- Earnings below €50,000
- Earnings above €50,000
A set of predefined calculation value definitions is provided to calculate statutory and involuntary deductions. You can't edit the predefined calculation value definitions.
- Pensions
- Involuntary deductions
- Absences
- Time cards
Create or Edit Calculation Value Definitions
The element template creates calculation value definitions when you create elements with a certain category such as benefits, absences, and time card elements.
You can also create or edit calculation value definitions using the Calculation Value Definitions task in Payroll.
Value Definition Groups
The predefined set of standard value definition groups is available for you to categorize related calculation value definitions. You could create a new one or the predefined one.