Record Pension Fund Details - A summary of the activity

Through this activity, you can create / modify / delete pension funds.

The following key information about a pension fund can be recorded

• Name and code

• Employee and Employer contribution

• Rate of interest and interest computation method

• Finance book and account code number

• Office location address

• Bank details include name and account number

• PAN, TAN and TDS Circle

• Authorized signatory

Effective Date:

You can specify this date from which the record becomes valid for processing, at the

time of creation or update. When a new record is subsequently added, the effective

period of the preceding record ends, while that of the new record begins.

Modification Option: When you modify the details of a pension fund previously created,

the system provides two options for saving the changed record. You can update the

existing record or correct the same record. When you update the existing record, another

record for the pension fund is created. Further, a history of changes is maintained by the

system, which helps you to refer to previous records at any time. However, when you

overwrite a record, the new details replace the existing record and hence no history is

recorded.

Getting familiar with the pages inside

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Prerequisites

Definition of Fund Finance book

Definition of Pension Fund account code

What can you do in this activity

Use this page to maintain master information on pension funds.