The Incentive is an agreed percentage (nominally [5-10%]) of base salary prorated for the duration of being mobilised to the applicable project.

The Incentive award opportunity is calculated on the Employee’s base salary at the time of demobilisation from the Project.

Employee’s can only participate in one (1) Incentive at any given point i.e. if allocated to more than one (1) projects, cannot receive an incentive for working across multiple projects and double up in entitlements.

The Incentive will cease upon the employee’s completion of assignment to the assigned Project (last day allocated to the Project or transfer date).

The Incentive is based on project-based tenure only. There are no linked performance KPIs that are required to be achieved.

The incentive will not necessarily be applied to all projects.

It can be applicable to full time, part time, project specific, fixed term or casual employees

The Incentive amount is exclusive of superannuation. Ertech is required to make employer superannuation contributions up to the maximum contributions base.

All Incentive bonuses payable will attract superannuation contributions based upon ordinary time earnings to the maximum contributions base.

The Incentive amount will be processed by payroll less the applicable taxation requirements in accordance with legislative requirements.

Requirement to have Pay Items created for:

Project Retention on Termination

Project Retention Incentive (Accrual)

Don’t want to clear year end as project may cross financial years

To show on Payslip the accrual under Other

To show on Payslip Payment for Termination

Costing

Additional postings

Add to PAY sequence

Add to ONCOST sequence

RETT bonus to be paid out on Termination

Fringe not included in Pay – the rate will be held on the individual employee

Need to know who is entitled to the Bonus. Using HR Analysis create a Personnel Analysis Field.

Define the values for the analysis

Set up Group for RETBON so that only people with Analysis Y will accrue

As per the requirements RETBON is to be calculated on employee base salary and only applied to those on RETBON Group

Need to set the HR Analysis for employee to be eligible.

Set Pay Calc on the individual to show the %

Enter timecards for employee

When the Calculation is Run the RETBON should calculate 5% of earning categories on plan

1444 + 361 = 1805 Bonus should be 90.25 (5%1805)

Has the Credit for Bonus going to GL

Debit costed to the Project