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How to deduct Benefit Rates in 3 or 5 installments irrespective of the Employee's pay period — Cloud Customer Connect
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How to deduct Benefit Rates in 3 or 5 installments irrespective of the Employee's pay period

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Currently,the Employee can choose to deduct their Benefit Rates for Medical Insurance in 3 or 5 installments even though they are on monthly payroll. We offered them to use the option to dividing the annual rate by pay period and deduct every pay period but they rejected it.

How can we implement this for our client.

Eg, if the annual rate is $12,000, then the Employee should be deducted around $4000 on January, May and September.

We also have the additional requirement where the unused premium should be refunded in case an Employee resigns in the middle of the Deduction period. Eg, if he/she resigns during Aug,they should be refunded around $1333 to their final settlement. We are trying to push that for final adjustment but they need the first part to deduct in installment than through pay period.

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