Can we inactive a salary component once the Salary basis is in use?

Hi All,

Is there a possibility to inactivate a Salary component with an effective date once the Salary basis is in use.

For example, we have a component - Master Stipend which is currently in use. However in future state we would want to inactivate it so that anyone who is newly assigned to the Salary basis will no longer have the component added and it is still present on the existing employees salary records.

Thanks,

Sruthi