This page describes how to set up a super scheme where both the employer and the employee contribute to the scheme, but the amounts are different and are fixed amounts (not percentages). | UI Expand |
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| title | To set up the super scheme |
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| - Go to the Maintenance command centre and click Maintain Pay Codes.
- Click New.
- As the Pay Code Type, select Post-Tax Deduction.
- Specify a Pay Code. You can call it SUPER and then use the employee's initials to identify the code, for example SUPER-SJ.
- Enter a Pay Code Description then click OK. The new pay code will now be listed.
- Click the newly created pay code then click the General tab.
- For the Default Pay Rate, enter the amount the EMPLOYEE will contribute.
- Click the Super tab and enter the amount the EMPLOYER will contribute in the Maximum Amount field.
- Select the options Employer Superannuation Contributions are based on this Paycode and Include Employer Superannuation contributions with Direct Credits.
- Go to the Maintenance command centre and click Maintain Employees.
- Click Select Employee.
- Click the employee for whom the Superannuation Scheme is being set up, then click OK.
- Click the Pay Defaults/Totals tab.
- Press the F4 key on your keyboard (or click New). The Select a Pay Code to Add window is displayed.
- Click the Superannuation paycode created above then click OK.
- Enter a 1 in the Quantity column. The amount the employee is to contribute will appear in the Rate column.
- Ensure the correct rate of ESCT is being applied - you can see this on the Employment Details tab in Maintain Employees.
- When you process and finalise the next pay run, the Superannuation contributions will be deducted. Use the Employer Superannuation Period Report to show details of these deductions.
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| | To find out more about taxing superannuation contributions visit the IRD website. |
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