Common use of Deposits by the employer Clause in Contracts

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.