We move onto understanding another interesting page in the Job Data component today, the Compensation page.
This page also contains the Employee Name and EmplID subpage at Level 0 and the Effective Date, Effective Sequence, Action and Action Reason for this record from the Work Location page at Level 1 in read only mode.
Some of the other fields are
Compensation Rate that displays the compensation rate for the person, and is a total of all the base pay salary components defined for the person (we will discuss pay components a little while later in this post).The data is diplayed is read only and followed by the currency code.
Frequency field enables you to select a compensation frequency for the compensation of this person. Values include Monthly / Bimonthly / Weekly etc for employees and Contract for contingent workers. PeopleSoft HCM fetches and uses the information present on the Contract Pay page to manage the person’s compensation details.
Change Amount displays the change in the amount of compensation for a person in the event of a compensation change, this value is displayed as read only and is followed by the currency code and pay frequency in read only mode.In case there is no compensation change 0 is displayed.
Change Percent displays the percent of change in the compensation for the person in the event of a compensation change. In case there is no compensation change 0 is displayed.
This group box contains pay rates that are calculated by using the default frequencies from the country. You can specify the default frequencies by country on the Default Frequencies page.
Moving onto the Pay Components grid that is the nucleus of this page, the data here is organised in the form of 4 tabs and some of the important fields here include the following listed according to the tab they are present in, also note that the fields and corresponding values that follow are part of the PS_COMPENSATION table and not the PS_JOB table.
The Amounts tab,
Rate code which is an ID for a pay component.
Comp Rate that displays the compensation rate for the pay component.
Frequency indicating the compensation frequency for the pay component.
The Controls tab,
Manually Updated field indicates whether the pay component is manually updated or the pay component contains only values that appear by default.
Default without Override field indicates whether you can change the default values of the pay component or the values for this rate code are default values and display-only.
The Changes tab,
Change Amount displays the overall change amount in this pay component rate.
Change Percent displays the overall change amount for this pay component.
The Conversion tab,
Converted Comp Rate displays the converted compensation rate for this pay component.
Apply FTE field has to be selected if you want the value that is associated with the rate code to be multiplied by the FTE factor for annualization and deannualization.
Now we focus on 2 buttons that act upon data in this grid,
the Default Pay Components button and the Calculate Compensation button
Default Pay Components, clicking on this button replaces the existing data in the Pay Components grid with rate code default values based on the rate codes that you have setup for the person, driven by the JobCode-Grade combo or other job related attributes.
Values that get replaced include the Rate Code, Comp Rate, Frequency, Apply FTE.
Also compensation-related fields, such as Annual Amounts are flushed and replaced with recalculated values when this record is saved.
If the person’s compensation package contains Rate Codes without default values where flat amounts are expected to be entered, you can enter the data and then click on the Calculate Compensation button.
PeopleSoft HCM issues a warning when you try to save a record without clicking on the Default Pay Components button.
Calculate Compensation button upon being clicked causes the recalculation of the person’s compensation. The default Rate Codes and Comp Rates are not changed and values are populated in the Compensation Rate, Change Amount, Change Percent etc read only fields on the page.
PeopleSoft HCM issues an error message when you try to save a record without clicking on the Calculate Components button after clicking on the Default Pay Components button and modifying any of the fields in the Pay Components grid.