Insurance processing: age and lowest limit of salary

The age limit and pay limit of the insurances in Procountor will be discussed in this article.

TyEL insurance age limit

Procountor calculates automatically the age limit of TyEL insurance from the Date of birth field. If an employee belong to the field of insurance exceptions because of his/hers age Procountor will automatically put the insurance exception to Earnings payment report. This means that the exception should not be put manually to the Employee register. The insurance exceptions has been only made for TyEL insurance. More about MyEL and YEL insurance processing can be found here. 

*Insurance age limit depends on the year that the employee was born:

• 68 years if the employee has born 1957 or earlier
• 69 years if the employee has born 1958-1961
• 70 years if the employee has born 1962 or earlier

The minimum age for the liability to pay unemployment insurance contributions will change on August 1st 2022 from 17 to 18. This has been implemented to Procountor and will take effect on 1.8.2022.

In a situation when employee is underage (for example 16) and he belongs to the field of TyEL insurance, Procountor will automatically calculate insurance exceptions. This means that the salary info insurance exceptions should be left empty for Procountor to calculate the exception in the salary slip. 

Lowest limit of salary

Procountor does not take into consideration the lowest limit of salary in the insurance calculation. If the salary is below the limit a notification will appear to remind that the limit has not been reached to calculate the insurances. After this the user should correct the salary lip accordingly. Do not continue after the notification if the lowest limit should be noticed in the salary slip.