Overview

Future termination request are normally done to determine/estimate a pay-out for a particular employees final termination payment. This is usually done for redundancy's or section 123's payments as a dollar figure needs to be stated in the redundancy or section 123 letter to the employee.

Client Responsibilities

Client to request future termination calculation, information needed: 

• Employee code and name 
• Date of termination 
• Any extras to be added eg, in lieu of notice, section 123, redundancy etc 

Caution must be taken if the figures are provided to the employee. This is an estimation only. The tax values may change when the payment is actually paid out. The lumpsum payments are taxed based on the direct credit date

EasiPay Responsibilities

EasiPay Consultants can perform future termination calculations and send them to the client. This is a manual calculation and may be done in a test environment for estimate values.
Once client is happy with the calculations they will advise whether these calculation should be processed in a manual pay run or be included in the main run.

Note:

Sometimes predicted calculation will not match actual calculations eg tax may change. There maybe a charge for this service depending on the quantity required.