Superannuation: Why is it important that e-PayDay® is kept up-to-date?
Updated: May 3, 2019
What is Super Manager?
Super Manager tracks of all of your Superannuation Contributions, whether they are mandatory Employer (9.50%) or optional Employee (before or after tax) contributions.
Why does it matter?
In simple terms, it is your legal obligation as an Employer. Fairwork Australia have outlined what information is mandatory on the Employees payslip, which must be provided either physically or electronically within 1 working day of the Employee receiving payment.
Keeping Super Manager up to date ensures that the mandatory information is displayed on the Employees Pay Slip every pay period and is included as part of your mandatory Single Touch Payroll reporting.
So...what's next?
Gather Employment Records
Locate the Employees physical Employment record, including thier TFN Declaration and Superannuation Choice forms (or similar depending our your business requirements).
Confirm all Employees are set up correctly
Is the Employee linked to the correct fund in e-PayDay®? Does thier set up match the paperwork they returned?
Correct any issues
Add any new Super Funds that are required, Update existing Super Fund details, Reassign Employees to the correct Superannuation Funds and update Employee records as required.
Decide what's best for your business
How do you currently pay your Superannuation obligations and are you already SuperStream compliant? We recommend contacting all Superannuation Funds you currently contribute to and considering our own,e-PayDay® SuperStream Gateway to find the best solution for you.
Implementation
Depending on the Superannuation Fund, Clearing House or Gateway provider you select, we have a complete getting started guide for SuperStream.
The e-PayDay® SuperStream Gateway is available to all e-PayDay® clients as a monthly (or annual) subscription based on your current e-PayDay® Subscription. To learn more, please visit SuperStream or call us on 07 3049 1860.
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