LONG SERVICE PAYMENT title: long service payment (PY-HK) (SAP Library - Glossary)
LONG SERVICE PAYMENT category: Hong Kong (PY-HK)
LONG SERVICE PAYMENT explained:
Payment to which an employee who has worked for the company for 5 or more years is legally entitled to if his or her employment is terminated (other than summary dismissal or redundancy), he or she dies or retires (age 65 or above). It is reduced by any gratuity or the employer's non-mandatory contribution to a retirement scheme.
An employee is eligible for either the severance payment or the long service payment but not both.
More terms such as long service payment in Dictionary L.
- Manual Labeling Transaction:
- Help The creation of either an optical-character code or a barcode for a material to enable it to be uniquely identified. Labeling is normally carried out immediately after goods are received long service payment definition.
- Manual Lock Priority:
- Help master data locking concept firmly stipulates for a maintenance type. For example, the access type mass maintenance has a higher lock priority than the maintenance type individual maintenance long service payment explain.
- Manual LIFO Principle (LE-WM):
- Help last in, first out. Stock removal strategy in which goods last transferred to a storage type are the first transferred out of the storage type, known as last in, first out. The LIFO principle is set long service payment what is.
- Manual Long-Term Document:
- Help The documents used for revision that result from changes made to infotypes. The changes are written to the database, or can be archived. Long-term documents are available until you delete them long service payment meaning.
- Manual Leading Ledger:
- Help applies the same accounting principle as that used for drawing up the consolidated financial statement. The leading ledger is integrated with all subsidiary ledgers and is updated in all company long service payment abbreviation.
