Payroll Processing > System Items > Provident Fund
SimplePay has a built-in item to accommodate Provident Funds for your employees. Employees make a mandatory contribution to the national pension scheme, either MPF or ORSO.
To have the details of the provident added:
- Click on Provident Fund (under Regular Inputs)
- Choose the Scheme Provider using the dropdown list
- Choose the Scheme Type using the dropdown list
- If an employee is going to retire early, tick the Early Retirement checkbox and enter the Early Retirement Age
- If an employee is not retiring early, leave the checkbox unticked
- Click Save
More information about Provident Funds can be found here.
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