Why SA_ER_ANNUITIES_PCT & SA_EE_ANNUITIES_PCT Global Values are not Matching The New Changes?
Last updated on JANUARY 10, 2017
Applies to:Oracle HRMS (Saudi Arabia) - Version 12.1.3 and later
Information in this document applies to any platform.
How to update the global values SA_ER_ANNUITIES_PCT & SA_EE_ANNUITIES_PCT to match new changes of GOSI from 9% to 10% effective sep 2014?
There is a new requirement from Saudi Arabia Government.
Divided by 1% deducted from the employee GOSI salary reference and 1% paid by the employer.
This deduction have to be with deferent elements under GOSI umbrella including to below elements:
- Employee GOSI Annuities (Saudi Arabia legislation)
- Employer GOSI Annuities (Saudi Arabia legislation)
- Employer GOSI Hazards (Saudi Arabia legislation)
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