Overview of Pay Plans - Workforce Planning
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Overview of Pay Plans - Workforce Planning
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Play Plans defines how you want to pay out compensation items to your employees. They determine how compensation items are spread in budget periods. Pay Plans can be applied at the employee level or the compensation item level. If no Pay Plan are mapped, then the Salary Calculation Basis is used to pay out amounts each period.
The default monthly spread is defined as the Salary Calculation Basis on the Configuration Tasks page where the value is equal to monthly, workdays, or calendar days. For example, Paid Time Off might have a different pay out schedule when compared to other regular compensation items.
Note:
In order for a new pay plan you create here to override the selection made on the Define Workforce Planning Budgeting Criteria Configuration Task page, Salary Calculation Basis must be set to Equal Monthly.
Note:
Setup pay plans for all years within your template.
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