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.