Common use of Redundancy pay scheme Clause in Contracts

Redundancy pay scheme. (a) An Employer may offset an Employee’s redundancy pay entitlement in whole or in part by contributions to a redundancy pay scheme. (b) Provided that where the employment of an Employee is terminated and: (i) the Employee receives a benefit from a redundancy pay scheme, the Employee will only receive the difference between the redundancy pay in this clause and the amount of the redundancy pay scheme benefit the Employee receives which is attributable to Employer contributions. If the redundancy pay scheme benefit is greater than the amount payable under clause 14.3 then the Employee will receive no redundancy payment under clause 14.3; or (ii) the Employee does not receive a benefit from a redundancy pay scheme, contributions made by an Employer on behalf of an Employee to the scheme will, to the extent of those contributions, be offset against the liability of the Employer under clause 14.3, and payments to the Employee will be made in accordance with the rules of the redundancy pay scheme fund or any Agreement relating thereto. The Employee will be entitled to the fund benefit or the Award benefit whichever is greater but not both. (c) The redundancy pay scheme must be an Approved Worker Entitlement Fund under the Fringe Benefits Tax Regulations 1992 (Cth).

Redundancy pay scheme. (a) An Employer may offset an Employee’s a. The Company will become and remain during the life of the Agreement, a member of Incolink or any other redundancy pay entitlement scheme that is an approved Workers Entitlement Fund under the Fringe Benefits Tax Assessment Act 1986. b. The Company shall pay contributions to the Nominated Redundancy Fund on behalf of each Employee covered by this Agreement, calculated on a weekly basis in whole or in part by accordance with the following table: c. Where the Company makes contributions to a redundancy pay scheme. (b) Provided that where scheme and the employment of an the Employee is terminated due to redundancy and: (i) the i. The Employee receives a benefit from a redundancy pay scheme, the Employee employee will only receive the difference between the redundancy pay in this clause and the amount of the redundancy pay scheme benefit the Employee employee receives which is attributable to Employer employer contributions. If the redundancy pay scheme benefit is greater than the amount payable under this clause 14.3 then the Employee will receive no redundancy payment under clause 14.3from ▇▇▇▇▇ Rigging; or (ii) the . The Employee does not receive a benefit from a redundancy pay scheme, contributions made by an Employer employer on behalf of an Employee employee to the scheme will, to the extent of those contributions, be offset against the liability of the Employer employer under clause 14.3this clause, and payments to the Employee will be made in accordance with the rules of the redundancy pay scheme fund or any Agreement agreement relating thereto. The Employee will be entitled to the fund benefit benefit, or the Award Agreement benefit whichever is greater but not both. (c) The redundancy pay scheme must be an Approved Worker Entitlement Fund under the Fringe Benefits Tax Regulations 1992 (Cth).