SAP Message 53200 - Error in standard premium formula &3 for group &1

Diagnosis
Premium formula &v3& for country grouping &V2& is defined as thestandard premium formula for group &v1& in customizing. This premiumformula is not valid for the payroll period, or it cannot be used tocalculate the period or daily results.

System Response
Group &v1& cannot be created.

Procedure
Check that the premium formula &v3& was allocated a calculation formulain customizing