On-demand Wages Employer Agreement
This Agreement is between you (you or your), foundU Holdings Ltd ABN 59 603 695 914 (foundU) and DayPay Pty Ltd ABN 76 625 245 060 (we, us, our).
foundU’s On-Demand Wages product allows employees an early payment by us of their earned and approved wages less tax, deductions and certain pay items (Eligible Amount). Employees will be able to request up to the Eligible Amount to be paid early (Requested Amount).
The amount paid early by us to is repaid on your next regular payroll processing day (Payday). Employees pay a fixed fee of $5 for the early payment (Fee).
As a user of the foundU Platform your employees can access On-Demand Wages.
This Agreement applies to our arrangements with you for your employees use of On-Demand Wages.
It is agreed:
On-Demand Wages will provide your employees with access to Requested Amounts.
2. Employee eligibility
Subject to the terms of theOn-Demand Wages employee agreement and On-Demand Wages’s discretion, an employee will be eligible to use On-Demand Wages Platform if the employee is currently employed by you on a casual, part-time or full-time basis and has earnt a wage and the hours associated with those earnings have been approved. An employee will only be eligible if you process the employee’s payroll using the foundU Platform. You agree to immediately inform foundU and On-Demand Wages if you intend to stop processing payroll via the foundU Platform.
3. Employee Details
- to grant On-Demand Wages a perpetual, royalty-free licence to access and use (upon request by an employee) any relevant information contained in the employees foundU Platform profile required to provide the On-Demand Wages product;
- that On-Demand Wages may communicate directly with your employee with respect toOn-Demand Wages; and
- to have employees keep their employee records, including their name, address, date of birth, and proof of identity documents, accurate and up to date and that any failure to do so may render an employee ineligible to use On-Demand Wages.
4. Time approvals
In relation to any casual employees or employees who have timesheets approved, you agree to keep your foundU Platform updated by approving hours and days worked on a regular basis. On-Demand Wages will only include in the calculation of any Eligible Amounts hours that have been approved by you.
You must allow a deduction from all relevant employees on the next Payday the amount of any Requested Amount. If the deduction is insufficient to repay the Requested Amount, then the deduction may also attach to subsequent Paydays.
6. End of Employment
Where an employee who has received and not repaid a Requested Amount resigns, is terminated, or stops working for you for any reason, you must allow the deduction of the Requested Amount that has not yet been repaid to On-Demand Wages from the employee’s final payment.
8. Other Agreements