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Why is the kiwisaver employer contribution not consistently 3% of the gross pay?

charlottexray
2 Posts
User

Why is the kiwisaver employer contribution not consistently 3% of the gross pay?

Why is the employer contribution not consistently 3% of the gross for kiwisaver? Whenever our employee works something other than a 40 hour week the kiwisaver employer contribution is not 3%. Eg gross pay of $2000 MYOB calculates a contributiion of $42 which should be $60? Gross pay of $1600 MYOB calculates $33.60 should be $48?

1 REPLY
MYOB Moderator Steven_M
17,485 Posts
MYOB Moderator
New Zealand

Re: Why is the kiwisaver employer contribution not consistently 3% of the gross pay?

Hi @charlottexray

 

An Employer does need to pay Employer Superannuation Contribution Tax or ESCT for short on any employer contributions to an employees kiwisaver.

MYOB Payroll Support Note: Employer Superannuation Contribtuions Tax (ESCT) calculations will be able to assist with that.


Do let us know how you get on and if you require further assistance.


Kind Regards,
Steven
MYOB Client Support
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