Employer Contributions Employee Deductions Sample Clauses
The "Employer Contributions & Employee Deductions" clause defines how an employer will contribute to employee benefits and how certain amounts will be deducted from employees' paychecks. Typically, this clause outlines the types of benefits covered, such as retirement plans or health insurance, and specifies the percentage or amount the employer will contribute, as well as what portion the employee is responsible for through payroll deductions. Its core function is to ensure transparency and clarity regarding financial responsibilities for both parties, preventing misunderstandings about compensation and benefits.
Employer Contributions Employee Deductions. 25.1 Every Employer signatory to this Agreement herby agrees to deduct from the overall salary package (or “total package”), of Employees covered under this Agreement and employed by the Employer during the term of this Agreement, benefits as listed herein and to deduct from the Employee’s gross wages administrative dues. All monies will be paid to the designated Third Party Administrator or to the Union as prescribed by the Union in written notification.
25.2 It is understood that the Employer total package will be negotiated herein, and the Employee allocation for each deduction may be amended to meet current needs but the total package, as negotiated by the parties, shall remain constant.
25.3 The membership of IUPAT Local 1959 shall vote on the allocation of contributions from the annual upward adjustment of wages, prior to the scheduled effective date stated in the Agreement. All Signatory Employers will be notified fourteen (14) days prior to any revisions or adjustments in the wage allocation.
25.4 Local 1959 shall furnish each Employer with standard remittance forms upon which the Employer shall properly record each Employee’s accrued hours each month. Remittance shall be made each month, and by the tenth (10th) day of each month. Any delinquent remittance form is subject to a penalty assessment.
25.5 Contributions to the International Pension Fund, the Finishing Trades Institute, and the Labor Management Cooperation Initiative - For the duration of this Agreement, and any renewals or extensions thereof, the Employer agrees to make payments to the International Painters and Allied Trades Industry Pension Fund (“the Pension Fund”), the Finishing Trades Institute (“FTI”) and the Painters and Allied Trades Labor Management Cooperation Initiative (“LMCI”), for each Employee covered by this Agreement as follows: For each hour or portion of an hour for which an Employee receives pay, the Employer shall make a contribution to the Pension Fund, to the FTI, and to the LMCI. For all current contribution amounts please refer to Local 1959’s latest wage allocation addendum (Schedule A) and the IUPAT Industry Pension Plan Modified Funding Improvement Plan Memorandum of Understanding. (Contributions must be made for each hour paid by the Employer, except that, when over- time rates apply, a contribution need be made for only the actual hour(s) worked).
25.6 Contributions shall be paid on behalf of any Employee starting with the Employee’s first hour of employmen...
Employer Contributions Employee Deductions. 17.1 Every Employer signatory to this Agreement hereby agrees to deduct from the overall salary package (or “total package”), of employees covered under this Agreement and employed by the Employer during the term of this Agreement, benefits as listed herein and to deduct from the employee’s wages administrative dues. All monies will be paid to the designated Third Party Administrator or to the Union as prescribed by the Union in written notification.
17.2 It is understood that the Employer total package will be negotiated herein, and the Employee allocation for each deduction may be amended to meet current needs but the total package, as negotiated by the parties, shall remain constant.
Employer Contributions Employee Deductions