Purchased Additional Leave (PAL. (a) The employer may offer permanent employees the opportunity to “purchase” an additional one week of leave each year in exchange for a proportional reduction in their salary over 12 months and within each financial year and is treated as leave without pay. (b) An employee wishing to purchase additional leave must enter into a written agreement with the employer which shall include: (i) an election at the beginning of each financial year (i.e at 1 July each year).; (ii) agreement that the employee's salary will be reduced by 1.92% for the period of the agreement; and (iii) authority for the employer to withhold an amount of money, from any monies owing to the employer for PAL taken but not accrued by the final pay within the financial year or at termination. (c) Annual leave entitlements shall be exhausted before the employee's PAL can be accessed. (d) All PAL must be used within each financial year (i.e by 30 June each year). If any PAL is not used by the final pay within the financial year, or the employee wishes to cease the arrangement, the foregone salary (if any) will be re- credited and paid to the employee. (e) Superannuation entitlements will be calculated on the pre-reduction salary and leave loading shall not apply to PAL.
Appears in 5 contracts
Samples: Enterprise Agreement, Enterprise Agreement, Enterprise Agreement
Purchased Additional Leave (PAL. (a) The employer may offer permanent employees the opportunity to “purchase” an additional one week of leave each year in exchange for a proportional reduction in their salary over 12 months and within each financial year and is treated as leave without pay.
(b) An employee wishing to purchase additional leave must enter into a written agreement with the employer which shall include:
(i) an election at the beginning of each financial year (i.e i.e. at 1 July each year).;
(ii) agreement that the employee's salary will be reduced by 1.92% for the period of the agreement; and
(iii) authority for the employer to withhold an amount of money, from any monies owing to the employer for PAL taken but not accrued by the final pay within the financial year or at termination.
(c) Annual leave entitlements shall be exhausted before the employee's PAL can be accessed.
(d) All PAL must be used within each financial year (i.e i.e. by 30 June each year). If any PAL is not used by the final pay within the financial year, or the employee wishes to cease the arrangement, the foregone salary (if any) will be re- re-credited and paid to the employee.
(e) Superannuation entitlements will be calculated on the pre-reduction salary and leave loading shall not apply to PAL.
Appears in 5 contracts
Samples: Enterprise Agreement, Enterprise Agreement, Enterprise Agreement
Purchased Additional Leave (PAL. (a) The employer may offer permanent employees the opportunity to “purchase” ―purchase‖ an additional one week of leave each year in exchange for a proportional reduction in their salary over 12 months and within each financial year and is treated as leave without pay.
(b) An employee wishing to purchase additional leave must enter into a written agreement with the employer which shall include:
(i) an election at the beginning of each financial year (i.e at 1 July each year).;
(ii) agreement that the employee's salary will be reduced by 1.92% for the period of the agreement; and
(iii) authority for the employer to withhold an amount of money, from any monies owing to the employer for PAL taken but not accrued by the final pay within the financial year or at termination.
(c) Annual leave entitlements shall be exhausted before the employee's PAL can be accessed.
(d) All PAL must be used within each financial year (i.e by 30 June each year). If any PAL is not used by the final pay within the financial year, or the employee wishes to cease the arrangement, the foregone salary (if any) will be re- credited and paid to the employee.
(e) Superannuation entitlements will be calculated on the pre-reduction salary and leave loading shall not apply to PAL.
Appears in 4 contracts
Samples: Enterprise Agreement, Enterprise Agreement, Enterprise Agreement
Purchased Additional Leave (PAL. (a) The employer Employer may offer permanent employees the opportunity to “purchase” an additional one week of leave each year in exchange for a proportional reduction in their salary over 12 twelve (12) months and within each financial year and is treated as leave without payyear.
(b) An employee wishing to purchase additional leave must enter into a written agreement with the employer Employer which shall include:
(i) an election at the beginning of each financial year (i.e i.e. at 1 July each year).;
(ii) agreement that the employee's salary will be reduced by 1.92% for the period of the agreement; and
(iii) authority for the employer Employer to withhold an amount of money, from any monies owing to the employer for PAL taken but not accrued by the final pay within the financial year or at termination.
(c) Annual leave entitlements shall be exhausted before the employee's PAL can be accessed.
(d) All PAL must be used within each financial year (i.e i.e. by 30 June each year). If any PAL is not used by the final pay within the financial year, or the employee wishes to cease the arrangement, the foregone salary (if any) will be re- credited and paid to the employee.
(e) Superannuation entitlements will be calculated on the pre-reduction salary and leave loading shall not apply to PAL.
Appears in 2 contracts
Samples: Enterprise Agreement, Enterprise Agreement
Purchased Additional Leave (PAL. (a) The employer may offer permanent employees the opportunity to “purchase” an additional one week of leave each year in exchange for a proportional reduction in their salary over 12 twelve (12) months and within each financial year and is treated as leave without payyear.
(b) An employee wishing to purchase additional leave must enter into a written agreement with the employer which shall include:
(i) an election at the beginning of each financial year (i.e i.e. at 1 July each year).;
(ii) agreement that the employee's salary will be reduced by 1.92% for the period of the agreement; and
(iii) authority for the employer to withhold an amount of money, from any monies owing to the employer for PAL taken but not accrued by the final pay within the financial year or at termination.
(c) Annual leave entitlements shall be exhausted before the employee's PAL can be accessed.
(d) All PAL must be used within each financial year (i.e i.e. by 30 June each year). If any PAL is not used by the final pay within the financial year, or the employee wishes to cease the arrangement, the foregone salary (if any) will be re- re-credited and paid to the employee.
(e) Superannuation entitlements will be calculated on the pre-reduction salary and leave loading shall not apply to PAL.
Appears in 1 contract
Samples: Enterprise Agreement
Purchased Additional Leave (PAL. (a) The employer may offer permanent employees the opportunity to “purchase” an additional one week of leave each year in exchange for a proportional reduction in their salary over 12 months and within each financial year and is treated as leave without pay.
(b) An employee wishing to purchase additional leave must enter into a written agreement with the employer which shall include:
(i) an election at the beginning of each financial year (i.e at 1 July each year).;
(ii) agreement that the employee's ’s salary will be reduced by 1.92% for the period of the agreement; and
(iii) authority for the employer to withhold an amount of money, from any monies owing to the employer for PAL taken but not accrued by the final pay within the financial year or at termination.
(c) Annual leave entitlements shall be exhausted before the employee's ’s PAL can be accessed.
(d) All PAL must be used within each financial year (i.e by 30 June each year). If any PAL is not used by the final pay within the financial year, or the employee wishes to cease the arrangement, the foregone salary (if any) will be re- credited and paid to the employee.
(e) Superannuation entitlements will be calculated on the pre-reduction salary and leave loading shall not apply to PAL.
Appears in 1 contract
Samples: Enterprise Agreement
Purchased Additional Leave (PAL. (a) The employer may offer permanent employees the opportunity to “purchase” an additional one week of leave each year in exchange for a proportional reduction in their salary over 12 months and within each financial year and is treated as leave without pay.
(b) An employee wishing to purchase additional leave must enter into a written agreement with the employer which shall include:
(i) an election at the beginning of each financial year (i.e i.e. at 1 July each year).;
(ii) agreement that the employee's salary will be reduced by 1.92% for the period of the agreement; and
(iii) authority for the employer to withhold an amount of money, from any monies owing to the employer for PAL taken but not accrued by the final pay within the financial year or at termination.
(c) Annual leave entitlements shall be exhausted before the employee's PAL can be accessed.
(d) All PAL must be used within each financial year (i.e i.e. by 30 June each year). If any PAL is not used by the final pay within the financial year, or the employee wishes to cease the arrangement, the foregone salary (if any) will be re- re-credited and paid to the employee.
(e) Superannuation entitlements will be calculated on the pre-reduction salary and leave loading shall not apply to PAL.PAL.
Appears in 1 contract
Samples: Enterprise Agreement