How to validate/update the defaulted ICP amount when there is a Grade change (promotion)?

Summary:

There is an ICP plan for Shift and the shift amounts are defaulted based on Grade using payroll element input value fast formula. When there is a Grade change, is there a way to validate or update the ICP amount for the new grade? Please advise if this can be achieved?

Content (please ensure you mask any confidential information):

There is an ICP plan for Shift and the shift amounts are defaulted based on Grade using payroll element input value fast formula. When there is a Grade change, is there a way to validate or update the ICP amount for the new grade? Please advise if this can be achieved?