Employer Kiwi saver contribution not correct

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Trusted Cover User harper23
53 Posts
Trusted Cover User
New Zealand
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Employer Kiwi saver contribution not correct

We have an employee contributing 3% and the employer is 3%. On the monthly schedule we noticed the figures were not matching. The employer amount is far less even though set up as 3%. We added gst on to see if that was the difference but it does not help.

I have checked other employees accounts and find that none of them are receiving 3% from employer on their payslips.

Where do I have to look to sort this out please.

 

Barbara

2 REPLIES
MYOB Staff Post RienaP
1,401 Posts
MYOB Staff Post
New Zealand
Accepted Solution Solved Solution

Re: Employer Kiwi saver contribution not correct

Hi @harper23,

 

Usually, KiwiSaver contribution (dollar value) deducted from the employees' pay will not be the same as the employer contribution even though the percentage is set to 3%. There is an impact to ESCT (Employer Superannuation Contribution Tax) that is deducted from the employer contribution.  

 

Can you please check that the under the Maintain Employees>>Select employee>>under Employment Details>>ESCT Rate % is set to "Calculated" as the software looks through the history to determine the percentage that will be deducted. If the percentage that is set for ESCT in the employee's details is incorrect it will reflect a wrong deduction.

 

Hope this helps. Let us know how you go and we are happy to help you further.

 

 

 

 


Regards,
Riena
MYOB Training Specialist
Trusted Cover User harper23
53 Posts
Trusted Cover User
New Zealand

Re: Employer Kiwi saver contribution not correct

Thanks Riena, have checked all employees are at "calculated" and our employee now understands. I was using the wrong terminology explaining it to him. ESCT is a hard one to explain.

Thanks, all good now

 

Barbara

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