How Does An Employer or Manager Establish a Payroll Deduction Plan?
• Arrange for the Payroll Department to Process Payroll Deduction Each Pay Period. Make necessary arrangements for your payroll clerk or payroll department to handle the program. This means that each pay period, the payroll clerk will prepare a check to Funeral Service Credit Union for the amount of funds which employees have elected to deduct. One check for the total amount of the staff deductions along with a list of employees’ names and the amounts they are depositing is sent to the credit union. Firms may also arrange to have the funds transferred electronically to the credit union each payroll period from the firm’s account at the bank. • Distribute Forms to Staff. Give each employee a Funeral Homes Credit Union Membership Packet and a payroll deduction form. • Staff Complete Forms and Return to Payroll Department. Each staff member who wishes to participate completes his/her payroll deduction card. The employee lists the total amount to be deducted and how it is to be distributed
Related Questions
- My employer participates in the BR&CFs payroll deduction plan. If I elect to have my dues payment automatically deducted from my paycheck, how long will it take for my increase to become effective?
- Can I use the Payroll Savings Plan in place of my employers traditional payroll deduction plan?
- How Does An Employer or Manager Establish a Payroll Deduction Plan?
