 |
Employee
Superannuation
The
latest, of an ongoing set of ATO changes to the Superannuation
regulations means
yet more paper work. VillageMall has developed a set of functions to
help your organisation meet these requirements with minimal cost, and with
improved online employee access.
Super Choice legislation
See
www.superchoice.gov.au for full details.
From the 1st July 2005, employers will have to offer eligible
employees a choice of the fund for their super payments. VillageMall provides
in-built support for the following functions to assist employers in meeting
these obligations. VillageMall has for many years supported the ability to pay
superannuation into a per employee selected fund (actually multiple funds are
available).
Penalties for not fully complying can be 25% of each employee monthly super
payments.
The following may be tracked on a per employee basis:
- Track if employee is eligible for super choice
- Track date standard choice form is provided to employee (
must be within 28 days of starting employment)
- Track data form returned by employee
- Track date employee choice is processed
- Track date of last change (only one change per 12 months
required)
- Web Office service users may also use Web Doc to file
Super Choice electronic copies of relevant records to meet the 5 year
retention requirements of this legislation ( Web Doc is ATO registered to
store electronic records as the original records).
Employee Superannuation provides the following
functions:
- Supports Multiple Superannuation fund payments,
- Record each employee’s superannuation fund and their membership number,
- Support for different superannuation types,
- Generation of Electronic payment files for Superannuation payments,
- Online reporting of amounts paid (standard payroll accrual reports are
not adequate to meet the specific ATO reporting requirements),
- Automatic audit of employee viewing super payment reports to meet
specific ATO requirements,
- Online payslips,
- Automatic reminders for quarterly superannuation payments.
Employee Self service
Villagemall Employee "account" provides a completely self-service
electronic solution for employee reporting requirements, allowing your
employees to access their information anytime, anywhere.
Employee "account" allows your employees online access to:
- Update contact information,
- Update tax related information,
- Update electronic banking records,
- Update payments splits between an unlimited number of electronic payment
accounts,
- View and print any pay slip for the current year,
- View and print Payment Summary reports for yearly tax returns,
- View and print superannuation payment reports,
- View leave entitlements,
- View travel expense payments
- Employees only have access to their information.
Employee "account" helps employers meet their
award wages and
conditions.
Please contact
us for additional information on using VillageMall® Employee Superannuation
or Employee reporting.
|
|
