Benefits scheme that gives total control of the package format to the employee. Employees are given complete flexibility to model their package to suit their lifestyle and their risk tolerance level. The exception to this would be any legal constraints, for example, a requirement in law that every employee must be given at least 20 days holiday per year (including public holidays).
An organization offers the employee a value of money which is the total value of their package, and from this is deducted the cost of any legally-binding benefits. The remaining value can be modeled however the employee chooses.
For example, an employee could take the remainder of the package value as salary, or alternatively, further benefits can be chosen and less salary is paid as a result. The benefit choices made are entirely at the discretion of the employee and an organization places no limits on any combination, apart from legal restrictions.
More terms such as total package scheme in Dictionary T.
- Manual Totals Table:
- Help Database table containing totals records total package scheme definition.
- Manual Tax Determination:
- Help An object that specifies the tax rate and rules to be applied by determining factors such as transaction type, taxable country, tax type, exemptions, and calculation method total package scheme explain.
- Manual Two-Dimensional Pricing:
- Help maintenance of multiple condition record data on a single screen. Each screen is matrix-based and both the rows and columns of the matrix are freely-definable. You can use two-dimensional pricing total package scheme what is.
- Manual Terms Of Payment Key:
- Help definable key used to define the terms of payment. The following specifications are possible using the terms of payment key: Day limit Rules for determining the baseline date for payment Cash total package scheme meaning.
- Manual Technical Date:
- Help business partner version was created in the System. Together with the business partner number and the business date, the technical date serves to uniquely identify a business partner version total package scheme abbreviation.
