1. Introduction to Labor Insurance:
When labor insurance was launched in 1939, its scope of protection included five types of benefits, including injury, disability, maternity, death, and old age, and it was stipulated that various benefits could be implemented in installments depending on actual needs.
Amendments to some provisions of the Labor Insurance Regulations were passed by the Legislative Yuan on July 17, 1997, announced by the President on August 13, and the Executive Yuan ordered on October 9 that the Labor Insurance Annuity will come into effect on January 1, 1998 . Before that, the labor insurance offered cash benefits that included: maternity, injury or sickness, disability, old-age and death benefits. After the implementation of labor insurance pension program, monthly pension approach for claiming disability, old-age and death benefits have been added ,which are “old-age pension benefits”, “disability pension benefits” and “survivor pension benefits”. Through the implementation of the labor insurance pension scheme, laborers will obtain more complete labor insurance protection.
2. Premium rate and premium sharing
premium rate:
According to Article 13 of the Labor Insurance Regulations, starting from January 1, 2011, the labor insurance premium rate is 10.5%.
premium sharing:
In case of an insured worker with a definite employer, 70 percent of the labor insurance premiums are paid by the employer, 20 percent by the insured worker, and 10 percent by the government.
3. Penalties
If the insured unit fails to bear the insurance premium of the insured in accordance with regulations, and the insured bears it, it shall be fined twice the amount of the insurance premium that should be borne. The insured unit shall return the premium to the insured.
Workers: Labor insurance premium = insurance salary * 10.5% * 20% / 30 * number of insurance days
Units: Labor insurance premium = insurance salary * 10.5% * 70% / 30 * number of insurance days
How to cleverly use Workstem Formula Engine for one-click calculation?
The following formula can realize one-click calculation:
Labor insurance personal self-pay:
value = insurance salary*0.105*0.2*/30* PayRunPeriodInSerCalDays()
Labor insurance employer burden:
value = insurance salary*0.105*0.7*/30* PayRunPeriodInSerCalDays()
The above two formulas need to be set separately in their respective salary items in the system.
So how to set formulas in the Workstem system?
① Click ‘Payroll’ ② Click ‘Settings’ ③ Click ‘Setting’ of ‘Pay Items’
④ Click ‘New’ to create a new Pay Item
⑤ Set pay item name.
⑥ Set pay item alias.
⑦ When writing a formula, use the formula alias to reference the results of the salary item, and it must be in English and cannot have spaces.
⑧ Select Rounding Rules.
⑨ Select pay type:
Income: Paid to employees as salary income;
Deduction: Deduction from employee salary;
Others: As a reference value for salary calculation, it will not be used as a salary payment or deduction for employees.
⑩ Choose which customize item this pay item belongs to. If you haven't set up a customize item yet, you can choose not to.
⑪ Restrict which salary rules can be used for this salary item. If 'No' is selected, all existing payroll policies can use this pay item.
⑫ Save basic information of this pay item.
⑬ Click to next step.
Here, you can set which other income settings this pay item will be used for, and you can directly jump to the corresponding location to set it.
You can set it later and click 'Next'.
⑭ Copy the above formula here.
⑮ Verify if the format of the formula is correct.
⑯ Save the fomula.
⑰ Click to next step.
Review the settings and click 'Finish' if there are no issues.
Establish the following pay items according to the above process:
Insurance Salary
Formula Name: Insurance Salary
Formula alias: InsuranceSalary
Project type: Others
Formula: value = ActualBasicSalary + ... - ...
On the right side of the equal sign, you can choose to add or subtract other existing salary items, and the result will be calculated as the insured salary
Other salary items are displayed on the left side of the formula setting step, and can be directly added to the formula by clicking.
For example: value = ActualBasicSalary + OTAllowanve - NoPaidLeavePay
Personal self payment for labor insurance
Formula name: Workers Insurance Pay
Formula alias: WorkersInsurancePay
Project Type: Deduction
Formula: value=InsuranceSalary*0.105*0.2*/30* PayRunPeriodInSerCalDays()
Labor insurance units burden
Formula name: Units Insurance Pay
Formula alias: UnitsInsurancePay
Project type: Others
Formula: value=InsuranceSalary *0.105*0.7*/30* PayRunPeriodInSerCalDays()
Both formula names and alias names can be defined by yourselves under the rules mentioned in the above steps.
After the salary item is set, the labor insurance amount that individuals and units should bear will be automatically calculated during salary calculation, and the calculation results will be displayed in the payroll.
Introduction to Farmer's Health Insurance
The insured accidents of farmers’ health insurance are divided into five types: injury, disease, maternity, disability and death, which are respectively given to “medical benefits and cash benefits”. The former includes injury benefits and disease benefits, and the latter includes maternity, disability and funeral benefits, of which cash benefits compared with the trial period, the disabled payment item was added (it was changed to the disabled payment after January 29, 1999), and the funeral allowance was increased from 5 months to 15 months.
Premium rate and premium sharing
Premium rate: After the national fitness program was implemented on March 1, 1984, the premium rate for rural security was approved at 2.55%.
The premium rate of Farmer's Health Insurance is prescribed by the competent central authorities and approved by the Executive Yuan, ranging from six percent to eight percent of the monthly insured amount of the insured person,subject to approval of the Executive Yuan.
After the launch of National Health Insurance program from March 1st, 1995, the premium rate is set at 2.55 percent with a monthly insured amount of NT$10,200. Thirty percent of the premiums are paid by the insured person with the remaining seventy percent paid by the government.
The formula of the monthly premium is: monthly insured amount x premium rate x percentage of the premiums paid by the insured person. Monthly insurance premium payable by insured person =10,200x2.55%x30%=NT$ 78.
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