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 Link Technologies - LinkSOFT Documentation 
Help > Link Web Applications Portal > Human Resource Management > Payroll & HR Maintenance >
Superannuation Fund
Superannuation Fund is used to create and maintain fund companies. 

When a Superannuation Fund is created, system automatically creates the following pay codes.

  • F{Fund Code} - Employee Compulsory {Fund Name}
  • FE{Fund Code} - Employee Excess {Fund Name}
  • H{Fund Code} - Employer Compulsory {Fund Name}
  • D{Fund Code} - Employer Excess Taxable {Fund Name}
  • HE{Fund Code} - Employer Excess Tax Exempt {Fund Name}
1. Steps to create a Superannuation Fund:
  1. Enter below details:
    1. Code - Enter a code which can be a set of alphanumeric values to uniquely identify each fund company.
    2. Description - Enter the detailed name of the fund company.
    3. Reference - Enter the reference number provided by the fund
    4. Physical Addresses 1 to 3 - Enter the physical location of the fund company.
    5. City - Select the city. City is maintained under "Linkweb - Company Administration - Dropdowns - City".
    6. Post Code - Enter the postcode or zip code for the fund company.
    7. Postal Addresses 1 to 3 - Enter the postal address of the fund company.
    8. Phone - Enter the phone number of the fund company.
    9. Fax - Enter the fax number of the fund company.
    10. Email - Enter the email address  of the fund company.
    11. Contact Name - Enter the name of the contact person.
    12. Notes - This is an open text field, users can enter desired content.
    13. Default - Funds marked as default will be automatically added when a new employee is created. 
    14. Void - Void records will be "Disabled" and will not appear in any lookups . Edit the record and "un-tick" void to activate a record

2. Paycode Mapping

Paycode Mapping shows the paycodes mapped to the contribution type.

  • Contribution Percent - This is the minimum rate required to be paid for the contribution type
  • Update All Active Employee - Use this flag to apply the "Rate" to all active employees that have this superannuation fund.

3. Note:

  1. Employer compulsory and excess contributions are subject to age requirements. Refer to configurations "pay_super_minimum_age" and "pay_super_maximum_age"
  2. Ensure that the employee's "Date of Birth" is correctly captured in the employee profile.

4. How Super is calcualted

System calculates the "Gross for Super" and applies the "Contribution Rate" to get the "Super" to contribute.

1. Gross for Super - this is calculated based on the following rules:

  1. Sum Pay Codes based on the following:
    1. Paycode Type = "Gross Pay", "Taxable Allowance", "Benefit (Cash)" & "Non-Taxable Allowance"
    2. Includes Super = Ticked 
  2. The configuration "Super calculation based on Dollar/Cent" is used to round the amount before super is calculated.

Figure 1: Superannuation Fund