Calculate tax on the various pay components

Reference no: EM132936524

Elements describe the essential outcomes. Performance criteria describe the performance needed to demonstrate achievement of the element.

Gather employee information and verify organisational requirements relating to termination

1.1 Confirm type of employment termination using appropriate organisational sources

1.2 Obtain employee information required to process termination according to organisational procedures

1.3 Verify accuracy of information and seek clarification from sources, as required

Prepare information for termination

2.1 Identify legislation, taxation systems, regulations and codes of practice to be complied with in employment termination

2.2 Verify that employment termination process meets requirements of identified legislation, taxation systems, regulations and codes of practice

2.3 Identify and calculate various pay components relating to termination payment

2.4 Enter information required to process employment termination into payroll system and check for accuracy against source information

Process termination

3.1 Process employment termination in payroll system according to organisational policies and procedures

3.2 Use payroll system to process payments due to employee according to organisational and legislative requirements

3.3 Calculate tax on the various pay components according to legislative requirements

3.4 Issue ETP payment summary to employee according to legislative requirements
Document outcome of process and maintain information

4.1 Produce, review and store payroll records relating to employee termination according to organisational policies and security procedures

4.2 Prepare report on outcome of employee termination according to legislative requirements

Reference no: EM132936524

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