Deposits by the employer. ▪ The employer pays the following into the employee’s account with the Time Savings Fund: - the employer’s payments for the personal budget (see clause 4.14); and - only for construction site employees who participate in the banked hours scheme described in clause 2.9, the wages for the mandatory additional hours and the deposited travel time. The employer deposits the relevant amounts within 14 days of the end of each pay period. ▪ When making the deposit, the employer splits the amount into TSF Sustainable employability, TSF Days, TSF Holiday pay, and TSF Banked hours and specifies these separate components with the relevant amounts on the employee’s payslip as well. ▪ In all of this, the employer complies with the provisions of the articles of association and the regulations of the Time Savings fund. See Annex 4.
Deposits by the employer. The Employer agrees and undertakes that, it shall deposit into and/or credit the Escrow Account with:
Deposits by the employer. The Employer and the Trustee may agree on deposit of funds in the Trust to defray expenses of the Trustee. If not specifically directed by the Employer, the Trustee shall invest cash balances of the Trust Assets in short-term cash equivalents, including, but not limited to, units of its short-term collective investment funds, shares of regulated investment companies commonly known as money market funds, Treasury Bills, certificates of deposit, commercial paper, demand notes (including such collective investment funds, regulated investment companies and forms of commercial paper and demand notes which may be available through, or managed, sponsored or invested by, the Trustee or any affiliate thereof) and similar types of securities with maturities not exceeding two years. The Trustee may apply the amounts so deposited against any amounts due the Trustee from the Employer hereunder.
