CALCULATION OF SUPERANNUATION Clause Samples
The 'Calculation of Superannuation' clause defines how an employee's superannuation contributions are determined and managed under the agreement. Typically, it outlines the percentage of an employee's salary that will be contributed to a superannuation fund, specifies the frequency of payments, and may identify the applicable fund or allow the employee to nominate their preferred fund. This clause ensures that both employer and employee understand their obligations regarding retirement savings, promoting compliance with legal requirements and providing financial security for employees.
CALCULATION OF SUPERANNUATION. The rates as calculated under Superannuation in this Agreement have been calculated using the agreed industry formula as follows:
CALCULATION OF SUPERANNUATION. The rates as calculated under Superannuation in this Agreement have been calculated using the agreed industry formula as follows: 12% of the sum of: CW3 – Carpenters rate (36 hours); Site allowance p/h ($50m project); leading hand rate (2-5) p/h; and fares and travel 5-day week. CW3 – Carpenters rate (36 hours); Site allowance p/h ($50m project); leading hand rate (2-5) p/h; and fares and travel 5-day week.
CALCULATION OF SUPERANNUATION. The Employer shall calculate an Employee’s superannuation on the Employee’s pre-sacrificed wage in accordance with clause 3.5 (Superannuation) of this Agreement.