Common use of Salary Sacrifice for Superannuation Clause in Contracts

Salary Sacrifice for Superannuation. An Employee may make an agreement with the Company to participate in a salary sacrifice program in relation to superannuation contributions. The program is voluntary. The Employee must specify an amount as a percentage of ordinary time earnings (as defined in clause 22.4 by which his or her salary is to be reduced (“the salary sacrifice”). The salary sacrifice will be deducted from the Employee’s salary and contributed to by the Company to the Fund every four (4) weeks. The Company will continue to calculate the contributions required on the basis of the Employee’s ordinary times earnings before the salary sacrifice is deducted. After taking into account the salary sacrifice, an Employee shall not receive less than the wage rate specified in the Agreement. Salary sacrifice deductions will be made during a period of paid leave and the Employee will receive the rate of pay specified under the Agreement less the salary sacrifice deduction. Calculation of salary for the purpose of overtime, leave accruals and other payments due on termination of employment shall be calculated on a rate of pay which includes the salary sacrifice contributions i.e. as if the salary sacrifice contributions had not been deducted from the salary. Each Employee participating in a salary sacrifice program under this sub clause shall receive written confirmation of relevant information, including the post arrangement gross wage rates, net wage rates and any other payment that may be affected by the arrangement. The Employee may revoke the salary sacrifice arrangement at any time or vary the amount to be deducted at three (3) monthly intervals.

Salary Sacrifice for Superannuation. 36.9.1 An Employee employee may make an agreement with the Company Employer to participate in a salary sacrifice program in relation to superannuation contributions. The program is voluntary. . 36.9.2 The Employee employee must specify an amount expressed in whole dollars or as a percentage of ordinary time earnings (as defined in Sub-clause 22.4 36.5 by which his or her salary is to be reduced (“the salary sacrifice”). . 36.9.3 The salary sacrifice will be deducted from the Employeeemployee’s salary and contributed to by the Company Employer to the Fund every four (4) weeks. on a monthly basis. 36.9.4 The Company Employer will continue to calculate the contributions required by Sub-clause 36.5 on the basis of the Employeeemployee’s ordinary times time earnings before the salary sacrifice is deducted. After taking into account the salary sacrifice, an Employee shall not receive less than the wage rate specified in the Agreement. . 36.9.5 Salary sacrifice deductions will be made during a period of paid leave and the Employee employee will receive the rate of pay specified under the this Agreement less the salary sacrifice deduction. . 36.9.6 Calculation of salary for the purpose of overtime, leave accruals and other payments due on termination of employment shall be calculated on a rate of pay which includes the salary sacrifice contributions i.e. as if the salary sacrifice contributions had not been deducted from the salary. . 36.9.7 Each Employee employee participating in a salary sacrifice program under this sub Sub-clause shall receive written confirmation of relevant information, including the post arrangement gross wage rates, net wage rates and any other payment that may be affected by the arrangement. This written confirmation shall be provided again whenever the employee’s wage rate changes. 36.9.8 The Employee employee may revoke the salary sacrifice arrangement agreement at any time or vary the amount to be deducted at three (3) monthly intervals. 36.9.9 The Employer may change benefits under the program if required to do so by changes to State or Federal legislation. The Employer shall consult with employees and an employee representative, if requested by the employee, prior to any changes being implemented. In the event that amendment to these remuneration arrangements is to be implemented, the Employer will provide employees and their representative, if applicable, with reasonable notice. Such notice shall be not less than two (2) months unless a shorter time is required to comply with changes to legislation.

Salary Sacrifice for Superannuation. a) An Employee employee may make an agreement with the Company employer to participate in a salary sacrifice program in relation to superannuation contributions. The program is voluntary. . b) The Employee employee must specify an amount as a percentage of ordinary time earnings (as defined in clause 22.4 b)) by which his or her salary is to be reduced (“"the salary sacrifice”"). . c) The salary sacrifice will be deducted from the Employee’s employee's salary and contributed to by the Company employer to the Fund every four (4Payments shall be made on a monthly basis. d) weeks. The Company employer will continue to calculate the contributions required by 27.3 - Employer Contributions on the basis of the Employee’s employee's ordinary times time earnings before the salary sacrifice is deducted. . e) After taking into account considering the salary sacrifice, an Employee employee shall not receive less than the wage rate specified in the this Agreement. . f) Salary sacrifice deductions will be made during a period of paid leave and the Employee employee will receive the rate of pay specified under the this Agreement less the salary sacrifice deduction. . g) Calculation of salary for the purpose of overtime, leave accruals and other payments due on termination of employment shall be calculated on a rate of pay which includes the salary sacrifice contributions i.e. as if the salary sacrifice contributions had not been deducted from the salary. . h) Each Employee employee participating in a salary sacrifice program under this sub sub-clause shall receive written confirmation of relevant information, including the post arrangement gross wage rates, net wage rates and any other payment that may be affected by the arrangement. This written confirmation shall be provided again whenever the employee's wage rate changes. i) The Employee employee may revoke the salary sacrifice arrangement agreement at any time or vary the amount to be deducted at three (3) monthly intervals. j) The employer may change benefits under the program if required to do so by changes to State or Federal legislation. The employer shall consult with employees and any employee nominated person, which may include the Union, prior to any changes being implemented. In the event that amendment to these remuneration arrangements is to be implemented, the employer will provide employees and any nominated person/s (Union) with reasonable notice. Such notice shall be not less than two (2) months unless a shorter time is required to comply with changes to legislation.

Salary Sacrifice for Superannuation. 35.8.1 An Employee may make an agreement with the Company Employer to participate in a salary sacrifice program in relation to superannuation contributions. The program is voluntary. . 35.8.2 The Employee must specify an amount expressed in whole dollars or as a percentage of ordinary time earnings (as defined in clause 22.4 Subclause 35.5 by which his or her salary is to be reduced (“the salary sacrifice”). . 35.8.3 The salary sacrifice will be deducted from the Employee’s salary and contributed to by the Company Employer to the Fund every four (4) weeks. on a monthly basis. 35.8.4 The Company Employer will continue to calculate the contributions required by Subclause 35.4 on the basis of the Employee’s ordinary times time earnings before the salary sacrifice is deducted. After taking into account the salary sacrifice, an Employee shall not receive less than the wage rate specified in the Agreement. . 35.8.5 Salary sacrifice deductions will be made during a period of paid leave and the Employee will receive the rate of pay specified under the this Agreement less the salary sacrifice deduction. . 35.8.6 Calculation of salary for the purpose of overtime, leave accruals and other payments due on termination of employment shall be calculated on a rate of pay which includes the salary sacrifice contributions i.e. i.e., as if the salary sacrifice sacrifices contributions had not been deducted from the salary. . 35.8.7 Each Employee participating in a salary sacrifice program under this sub clause Clause shall receive written confirmation of relevant information, including the post arrangement gross wage rates, net wage rates and any other payment that may be affected by the arrangement. This written confirmation shall be provided again whenever the Employee’s wage rate changes. 35.8.8 The Employee may revoke the salary sacrifice arrangement agreement at any time or vary the amount to be deducted at three (3) monthly intervals. 35.8.9 The Employer may change benefits under the program if required to do so by changes to State or Federal legislation. The Employer shall consult with Employees and an Employee representative, if requested by the Employee, prior to any changes being implemented. In the event that amendment to these remuneration arrangements is to be implemented, the Employer will provide Employees and their representative, if applicable, with reasonable notice. Such notice shall be not less than two (2) months unless a shorter time is required to comply with changes to legislation.