Summary

Note: These settings are for Australia only.

When you add an Employee Terminations record, PayGlobal copies the allowance codes from the Termination Allowances tab to the Employment Termination Payments tab.

Fields

Annual leave:

Allowance code used for payment of entitled/pro-rata annual leave.

Long service leave:

Allowance code used for payment of entitled/pro-rata long service leave.

Employment Termination Payment Allowances

Redundancy:

Select the allowance code used for payments made to employees when their services are no longer required, or the need for their services have lessened. For example, when an employer loses a major ongoing contract.

Approved early retirement:

Select the allowance code used for payments made to encourage employees to retire early. These payments are often part of an employment package.

Gratuity or golden handshake:

Select the allowance code used for gratuity payments made to employees on termination in recognition of long standing service, loyalty or particular achievements.

Invalidity:

Select the allowance code used for disability payments made when employment is terminated due to an employee’s physical or mental disability.

Other:

For example, Golden Handcuffs is a payment made to employees with valuable knowledge and skills to prevent them from working in the geographical area or in the industry for a fixed period.

Other:

For example, Contractual Termination is a payment for fixed-contract employees to end their contracts rather than complete the work.

Lieu of notice:

Select the allowance code used for a payment made in lieu of giving the employee the required notice of termination.

Sick Pay:

If your company pays out sick leave entitlement on termination, then select the required allowance code.

See also

Modify Company Settings