The HR-XML Consortium’s Payroll Instructions specification provides a means for employee benefits data to be exchanged from its respective databases with the company’s payroll system. With this development, HR-XML is attempting to eliminate the need for multiple employee benefit data entries in different systems by standardizing the source code used to convey the data.
This exchange might include adjustments made to:
- medical insurance
- flexible spending accounts
- life insurance
- short and long term disability insurance
- accident insurance
- savings accounts
- employee stock purchase plans
Additionally, the product is set up to handle voluntary or non-benefit deductions, such as those for charities, union dues, savings bonds, savings/credit union accounts, personal loans, child support, personal and business membership fees, tuition and book fees, transportation fees, and parking fees.
Payroll Instructions was one of 13 specifications recently approved by the HR-XML Consortium, the independent, non-profit consortium dedicated to enabling e-commerce and intercompany exchange of human resources data worldwide centered on the development and promotion of standardized XML vocabularies for HR. To register to download the freely available specifications, visit http://www.hr-xml.org/forms/schema_register.cfm .
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