The subsidy will be given as a lump sum payment into employers bank accounts, and the employer must use this to retain their staff and pay wages during this difficult time.
We encourage you to keep paying your employees on your usual pay cycle as much as possible.
In many cases, the subsidy won’t cover full wages. Under the scheme, you must commit to pay at least 80% of the employee's income. However, 'best endeavours' mean the employer and employee can negotiate an alternative approach.
If you’re able to, you can cover the shortfall in wages to 100%.
We’ve made a helpful step-by-step guide if you wanted to set this up as a special pay type in Thankyou Payroll.
Source (Credit): Thankyou Payroll