Electronic Payroll Transfer Clause Samples

The Electronic Payroll Transfer clause establishes the requirement for employee wages to be paid via electronic funds transfer directly into employees' bank accounts. In practice, this means that instead of issuing paper checks, the employer will deposit salaries electronically on scheduled pay dates, often requiring employees to provide valid banking information. This clause streamlines payroll processing, reduces administrative costs, and minimizes the risk of lost or stolen checks, ensuring timely and secure payment to employees.
Electronic Payroll Transfer. Wages shall be paid by an electronic payroll transfer system.
View SourceView Similar (8)
Electronic Payroll Transfer. Salaries shall be paid by an electronic payroll transfer system. 5-1 CALPERS FORMULA AND CONTRIBUTION: Teamsters unit employees hired prior to July 1, 2011 or until such time as the City can affect a change in its CalPERS contract implementing a second tier, shall receive the “2.7% at age 55 Full Formula” (Government Code Section 21354.5) benefit. Effective the first pay cycle after adoption of this MOU, Teamsters unit employ- ees hired prior to July 1, 2011 or until such time as the City can affect a change in its CalPERS contract implementing a second tier, shall be required to pay one percent (1%) of the employee paid members contribution (EPMC) and will have the option to have a salary adjustment in the form of a deferred income payment for their member contribution. Likewise, effective pay period ending June 29, 2012, those Teamsters unit employees shall be required to pay a total of two percent (2%) of the EPMC. Teamsters unit employees hired after July 1, 2011 or at such time as the City can affect a change in its CalPERS contract implementing a second tier, shall receive the “2% at age 60 Full Formula” (Government Code Section 21353) benefit. Likewise, they shall have their retirement base calculation based upon their final three year average of compensation and pay the entire EPMC in an amount de- fined by statute (currently seven percent (7%)).‌‌ The pension reforms required by the California Public Employees’ Pension Re- form Act of 2013 (Article 4 (commencing with Section 7522) of Chapter 21 of Di- vision 7 of Title 1 of the Government Code) (hereinafter “PEPRA”) shall be im- plemented as well as any amendments thereto or related statutes that are enact- ed with similar mandatory provisions. This does not include implementation of any pension reforms that are not made mandatory by PEPRA and to the extent required by law, the City and IBEW 1245 representatives will meet and confer in the future over any other changes resulting from PEPRA or related statutes be- fore they will be implemented. IBEW 1245 represented Unit employees hired by the City prior to November 19, 2011, shall receive the “2.7% at age 55 Full Formula” (Government Code Section 21354.5) retirement benefit. Effective the second full pay period following City Council adoption of this MOU, and adoption of any required CalPERS resolution effecting the changes de- scribed herein, IBEW 1245 represented employees hired prior to November 19, 2011, shall pay their full CalPERS member contr...
View Source

Related to Electronic Payroll Transfer

  • Electronic Payment certificate – an electronic certificate created by the client and/or Bank which represents the basis of performing transactions on the account of the client;

  • Electronic Payments The Grantee can choose to use electronic funds transfer (EFT) to receive grant payments. All grantees wishing to receive their award through EFT must submit a Vendor Direct Deposit Authorization form (form number DFS-AI-26E, rev 6/2014), incorporated by reference, to the Florida Department of Financial Services. If EFT has already been set up for your organization, you do not need to submit another authorization form unless you have changed bank accounts. To download this form visit ▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇▇▇/▇▇/▇▇▇▇▇/▇▇▇-▇▇-▇▇▇.▇▇▇. The form also includes tools and information that allow you to check on payments.

  • Electronic Funds Transfer (EFT) The recipient/cooperator shall designate a financial institution or an authorized payment agent through which a federal payment may be made in accordance with US Treasury Regulations, Money and Finance at ▇▇ ▇▇▇ ▇▇▇, which requires that federal payments are to be made by EFT to the maximum extent possible. A waiver may be requested and payments received by check by certifying in writing that one of the following situations apply: 1. The payment recipient does not have an account at a financial institution. 2. EFT creates a financial hardship because direct deposit will cost the payment recipient more than receiving a check. 3. The payment recipient has a physical or mental disability, or a geographic, language, or literacy barrier. In order to receive EFT payments the recipient/cooperator shall register in the System for Award Management (▇▇▇). You may register by going to ▇▇▇.▇▇▇.gov and following the instructions provided online. For assistance, contact the ▇▇▇ User Help by contacting the supporting Federal Service Desk at (▇▇▇)▇▇▇-▇▇▇▇ or ▇▇▇.▇▇▇.▇▇▇ .

  • Separate Counterparts and Electronic Signature This Agreement shall be valid, binding, and enforceable against a party only when executed by an authorized individual on behalf of the party by means of (i) an electronic signature that complies with the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, in each case to the extent applicable; (ii) an original manual signature; or (iii) a faxed, scanned, or photocopied manual signature. Each electronic signature or faxed, scanned, or photocopied manual signature shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any electronic signature or faxed, scanned, or photocopied manual signature of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity thereof. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but such counterparts shall, together, constitute only one instrument. Notwithstanding the foregoing, with respect to any notice provided for in this Agreement or any instrument required or permitted to be delivered hereunder, any party hereto receiving or relying upon such notice or instrument shall be entitled to request execution thereof by original manual signature as a condition to the effectiveness thereof.

  • Consent to Electronic Delivery; Electronic Signature In lieu of receiving documents in paper format, the Participant agrees, to the fullest extent permitted by law, to accept electronic delivery of any documents that the Company may be required to deliver (including, but not limited to, prospectuses, prospectus supplements, grant or award notifications and agreements, account statements, annual and quarterly reports and all other forms of communications) in connection with this and any other Award made or offered by the Company. Electronic delivery may be via a Company electronic mail system or by reference to a location on a Company intranet to which the Participant has access. The Participant hereby consents to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may be required to deliver, and agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual signature.