Superannuation Guarantee Contributions Clause Samples
The Superannuation Guarantee Contributions clause requires an employer to make mandatory contributions to an employee’s superannuation fund in accordance with applicable laws. Typically, this means the employer must pay a specified percentage of the employee’s ordinary time earnings into a complying superannuation fund, and may need to provide evidence of these payments upon request. The core function of this clause is to ensure the employer fulfills their legal obligations regarding retirement savings, thereby protecting the employee’s future financial security and ensuring compliance with statutory requirements.
Superannuation Guarantee Contributions any salary-related payment including but not limited to allowances and workers compensation payments; and
Superannuation Guarantee Contributions. 9.1 In addition to the Total Remuneration set out in clause 7 of Annexure A, and any Service Allowance payable under clause 11 of this agreement, the RFDS will make superannuation contributions on behalf of each Employee to the level required, as indexed from time to time, to ensure compliance by the RFDS with the Superannuation Guarantee Legislation. For the 2007/2008 financial year, superannuation contributions will be made on behalf of each Employee at the rate of 9% of the cash component of the Employee's remuneration specified in clause 7 of Annexure A up to a maximum contribution of $13,129 per annum (based on a maximum contributions base of $145,880 per annum).
9.2 Superannuation contributions will be made into the RFDS National Superannuation Fund (the Fund) or another superannuation fund nominated by the Employee (provided that the nominated fund agrees to accept such contributions and meets the requirements of the Australian Taxation Office definition of a “complying superannuation fund”).
9.3 The RFDS shall remit contributions to the fund on a monthly basis.
9.4 The RFDS may suspend for the applicable period contributions made on behalf of an Employee if the Employee is absent for reasons other than annual leave, long service leave, paid sick leave, workers compensation or other authorised paid absence.