The following is a brief list of important Employer responsibilities. Whilst each item will improve the smooth operation of the Fund, they also have a legal implication for each Employer. In some case, failure to comply with the obligations can result in a financial penalty imposed by either APRA (Australian Prudential Regulation Authority) or the ATO (Australian Taxation Office), whilst in other circumstances may leave the Employer vulnerable to litigation (particularly where insurance is involved). The Fund strongly encourages each Employer to adopt and apply the requirements discussed in each of the below items:
To ensure that all forms completed by their employees and that all information relevant to the administration and maintenance of their employees' superannuation accounts is forwarded to Mercy Super in a timely manner.
Member personal contributions must be remitted to the Fund on behalf of the employees within 28 days after the month they became due. Example, A member contribution deducted from an employee's pay on 15 April must be remitted to the Fund by 28 May.
Superannuation Guarantee (SG) Contributions must be remitted to the Fund in full for each employee within 28 days after the Financial Year they became due. Example, All SG Contributions for every employee for the 2001/2002 Financial Year must have been remitted to the Fund in full by 28 July 2002.
New Employee details are required to be advised to Mercy Super no later than the end of each month.
Employment status changes are required to be advised to Mercy Super no later than the end of each month.
Details of resigning employees are required to be advised to the Fund no later than the end of each month.
Death Claims or potential Total and Permanent Disablement Claims should be reported to Mercy Super as soon as possible.
If all necessary information is included with each Employer's monthly contribution returns, this should help ensure compliance. If you have any questions regarding this matter or wish to discuss any of the above items in greater detail, please feel free to contact Mercy Super.