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Olive Technologies FZE





Olive Regional Feature List - South Korea


Complete Multi Currency Support for local and expats with the facility to change the Currency from any specific Month or Sub Period

Supports standard Monthly and weekly, 15 days and Fortnightly Payroll within each calendar month. Generate Pay Slips and Salary Registers against each of the Sub Periods (Weekly, 15 Days or fortnights)

Facility to enter Time Sheets of past month along with the current month (or separately) and generate a single or different Pay Slips for each of the Sub Periods.

Facility to apply and record different currency exchange rates for different Time Sheet periods within a month.

Facility to show YTD figures of all the Allowances and Deductions in Pay Slips

Facility to track the Onshore and Offshore salary components as well as to track the Local and Expats separately.

Tax computation as per the South Korea statutory requirements.

Employee Employment Insurance and Employer Employment Insurance computation as per statutory or user defined requirements.

Facility to set the formulae for the computation of the Employment Insurance (Unemployment Insurance) (Both Employee and Employer) as per the user requirements.

Facility to set the Social Security Income, completely user defined for the computation of the Employment Insurance. User can choose the allowances and deductions to be formed as part of the SSS Income.

Employee National Health Insurance and Employer National Health Insurance computation as per statutory or user defined requirements.

Facility to set the formulae for the computation of the National Health Insurance (Both Employee and Employer) as per the user requirements.

Facility to set the Social Security Income, completely user defined for the computation of the National Health Insurance. User can choose the allowances and deductions to be formed as part of the SSS Income used for the computation of the National Health Insurance.

Employee Long Term Care Insurance and Employer Long Term Care Insurance computation as per statutory or user defined requirements.

Facility to set the formulae for the computation of the Long Term Care Insurance (Both Employee and Employer) as per the user requirements.

Facility to set the Social Security Income, completely user defined for the computation of the Long Term Care Insurance. User can choose the allowances and deductions to be formed as part of the SSS Income used for the computation of the Long Term Care Insurance.

Employee Industrial Accidental Insurance and Employer Industrial Accidental Insurance computation as per statutory or user defined requirements.

Facility to set the formulae for the computation of the Industrial Accidental Insurance (Both Employee and Employer) as per the user requirements.

Facility to set the Social Security Income, completely user defined for the computation of the Industrial Accidental Insurance. User can choose the allowances and deductions to be formed as part of the SSS Income used for the computation of the Industrial Accidental Insurance.

Built In Additional Reports available, other than the standard reports

Time Sheet Summary Report

Statement of Earnings (Annual)

Salary Registers (Earnings, Deductions, Contributions, Financial Register, Tax Register)

Register - Employment Insurance

Register – Long Term Care Insurance

Register – Industrial Accidental Insurance

Register –National Health Insurance

Entry Checklist Reports

YTD Reports (Earnings, Deductions, Contributions, Financial Register, Tax Register)

Facility to set the Total Nasfund Income, completely user defined. User can choose the allowances and deductions to be formed as part of the Total Income for Nasfund.

User Defined Register setting facility (user can create their own registers as per their choice)

Facility to generate the different Registers in MS Excel formats.

Sub Period (Fortnightly / Monthly / Weekly) reporting facility

Currency Wise reporting facility

Local Currency, Foreign Currency and Dual Currency Pay Slips available in Graphical Preview, MS Excel and PDF Formats. Facility to send Pay Slips by email.

Supports the Olive Standard model and the new Rate x Qty model of data entry, storage and reporting and many more...