Add Employee Super Funds Record

Employee Super Funds records link employee's to their superannuation funds. Employees can have multiple active Employee Super Funds records. For example, an employee can contribute to their superannuation fund and to their partner's superannuation fund.

Example

In this example, Allison Hill is paid weekly and is currently in the MLCMASTER superannuation fund. Allison wants to switch to the CBUS superannuation fund. However, when you process a pay, Exolvo bases minimum/maximum threshold checks on the Superannuation PTD associated with that pay.

Important: Do not change an employee's superannuation fund or their contribution and influence details part-way through a Superannuation PTD.

You need to create an Employee Super Fund record for Allison's CBUS membership that starts in the first weekly Period PTD associated with the next Superannuation PTD (August 2013).

Allison wants to make the following contributions:

• 3% employee contribution
• $50 per week employer contribution through salary sacrifice.

Allison was not able to influence employer contributions so her company makes the minimum superannuation guarantee contribution:

• 9.5% employer contribution.

The company will not contribute if Allison's earnings are:

• Below the monthly minimum earnings amount
• Above the maximum quarterly earnings threshold.

However, the company is paying 9.5% superannuation guarantee contribution so Allison's $50 salary sacrifice fixed amount is regarded as RESC, not part of the superannuation guarantee.

1. In Employees, double-click 1003 – Allison Hill to open her record.
2. On Allison’s Payroll | Payroll | Superannuation tab, click Edit.
3. Press Insert to add an Employee Super Funds record.

The following topics explain how to add Allison Hill's Employee Super Funds record for the CBUS superannuation fund.

Topic: 14415