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spay:hrmsprocguide:hrmsprgf_prerequisites [2022/08/25 00:37] mclement |
spay:hrmsprocguide:hrmsprgf_prerequisites [2026/05/20 01:46] (current) mclement |
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| ===== MRA PRGF Contribution Rates ===== | ===== MRA PRGF Contribution Rates ===== | ||
| - | Employers are required to pay PRGF contributions at the rate of 4.5 % of the monthly remuneration of each worker. However, Small and Medium Enterprises (SME) will pay PRGF at a lower rate for the first three years, the difference being met by Government from a seed capital earmarked for that purpose. The PRGF rate, applicable on monthly remuneration, is based on the annual turnover of the SME. Visit the website of the MRA for more information. | + | Employers are required to pay PRGF contributions at the rate of 4.5 % of the monthly remuneration of each worker. The PRGF rate, applicable on monthly remuneration, is based on the annual turnover of the SME. Visit the website of the MRA for more information. |
| ====== Prerequisites for PRGF Returns on Sicorax HRMS Payroll ====== | ====== Prerequisites for PRGF Returns on Sicorax HRMS Payroll ====== | ||
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| The following must be updated before performing payroll calculation: | The following must be updated before performing payroll calculation: | ||
| - | * Company PRGF Rate (Small and Medium Enterprises (SME) ONLY) | ||
| * Employees PRGF Contribution flag and Pension scheme flag | * Employees PRGF Contribution flag and Pension scheme flag | ||
| * Payments & Deductions PRGF mapping | * Payments & Deductions PRGF mapping | ||
| - | ===== Update Company PRGF Rate (Small and Medium Enterprises (SME) ONLY) ===== | ||
| - | For Small and Medium Enterprises (SME), you are required to contact MRA to obtain the PRGF rate. The rate must be manually inserted as per the below instructions. | ||
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| - | **Note:** __As per MRA requirement, after a specific number of years this special rate is not applicable. Therefore, you must manually set the company PRGF Rate to zero therefore, the normal PRGF Contribution Rate of 4.5% will automatically apply.__ | ||
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| - | {{:spay:hrmsprocguide:hrmscompanysme.png|}} | ||
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| - | * Step 1: Go to Payroll/Settings/Parameters | ||
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| - | * Step 2: Click Company Tab | ||
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| - | * Step 3: Insert PRGF Contribution Rate % as per MRA requirement | ||
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| - | * Step 3: Click Save | ||
| ===== Automatic Employee PRGF Contribution Flag (for new recruits) ===== | ===== Automatic Employee PRGF Contribution Flag (for new recruits) ===== | ||