Our company (Company A) has recently inherited a number of employees due to the purchase of another business that went into liquidation(Company B).
As part of the sale agreement, we accepted the transfer of annual leave liabilities, among other things, from Company A to the Company B, and offered the employees continuation of their employment.
A condition of the sale was that the annual leave balance at date of sale be paid out to the employees by Company A.
- Can I process leave payout for these transferred employees without sticking to the 2 week cap on leave cash out?
- If yes to question 1, can I process this payment as a lump sum payment from Company A to these employees to pay out the balance accrued while employed by Company B?
- If yes to question 1 but no to question 2, If I cannot process a lump sum payment, can I process their leave cash out through weekly installment along with their regular weekly pay?
- Will these payments attract super?
- If I cannot proceed with the above, what is the recommendation?
476 views
476 views1 replies
1 replies
476 views
1 replies