Benefits Tables

Benefit Tables:

PS_DEPENDENT_VW -- Contains information related to Dependent Beneficiaries.
PS_BAS_ACTIVITY    -- Lists all events triggered for an Employee.

Base Benefits: Some Useful Info -- Part 1

Where do we set Age limit for Dependents in Benefits Module?

Let's consider a scenario where an Employee enrolls dependents into a plan ,say Health Care Plan.
And as per the insurance plan, only dependents upto 25 years are covered.


Setup HRMS --> Product Related --> Base Benefits --> Rates and Rules --> Dependent Rules Table.

Where do we setup to exclude disabled from Age limit for Dependents in Benefits Module?
Setup HRMS --> Product Related --> Base Benefits --> Rates and Rules --> Dependent Rules Table.

What is a fringe benefit?

Fringe Benefit:
Fringe is nothing but an extra/ an edge over something etc.
These are usually paid by employers to the employee to retain the talent pool. Fringe Benefits is a supplemental to employee's salary. Like an Employer can offer Employer Paid Life Insurance to an employee.

Most of the cases , fringe benefits are non-taxable unless until they represent a fair market value.
So these benefits doesn't fall under Employee taxable income. That's the reason the premium deducted in the Pay comes under Pre-Tax.

However, this depends on the  rules set by the IRS (Internal Revenue Service) in US.

Suppose if a coverage limit is set for Life Insurance and if an employers offers more coverage than the coverage limit set by the IRS then the extra perk becomes taxable.

Other examples of Fringe Benefits is like using company provided car, getting stocks etc.

Benefits Terms

OASDI -- Old Age, Survivor and Disability Insurance
FICA  -- Federal Insurance Contributions Act
FMLA  -- Family and Medical Leave Act
COBRA -- The Consolidated Omnibus Budget Reconciliation Act
FLSA  -- Fair Labor Standards Act
FEGLI -- Federal Employee Group Life Insurance
ABBR -- Annual Benefits Base Rate
EIC     -- Earned Income Credit. Represented as $E