Allocation of Payroll and Related Obligations Sample Clauses
The "Allocation of Payroll and Related Obligations" clause defines how responsibility for employee compensation, taxes, and benefits is divided between parties, typically in the context of a business transaction or outsourcing arrangement. It specifies which party will handle payroll processing, remit payroll taxes, and provide statutory benefits such as health insurance or retirement contributions for affected employees. This clause ensures that both parties clearly understand their financial and legal responsibilities regarding workforce costs, thereby preventing disputes and ensuring compliance with employment laws.
Allocation of Payroll and Related Obligations. Each entity that is the employing legal entity of any Heritage Dow Employee or Heritage DuPont Employee during any portion of 2019 shall, in respect of the period of its employment, be responsible in respect of such employee for all payroll obligations, Tax withholdings, other applicable payroll deductions (including garnishments and union dues), and Tax reporting obligations (including delivery of a Form W-2 or similar earnings statement covering the 2019 tax year), and the applicable employer shall separately account for any such withholdings or deductions and apply them exclusively in satisfaction of the obligation in respect of which they were withheld or deducted.
Allocation of Payroll and Related Obligations. Each entity that is the employing legal entity of any RemainCo Employee or ElectronicsCo Employee during any portion of the year in which the Distribution Date occurs shall, in respect of the period of its employment, be responsible in respect of such employee for all payroll obligations, Tax withholdings, other applicable payroll deductions (including garnishments and union dues), and Tax reporting obligations (including delivery of a Form W-2 or similar earnings statement covering the tax year in which the Distribution Date occurs), and the applicable employer shall separately account for any such withholdings or deductions and apply them exclusively in satisfaction of the obligation in respect of which they were withheld or deducted.