Offering Childcare Vouchers as an employee benefit is a great way to help working parents meet their childcare costs and aid recruitment and retention of experienced staff. If Childcare Vouchers are operated as a salary sacrifice scheme, whilst an employee agrees that their wages are effectively cut in exchange for benefits, it is up to the employer to check they are not paid less than the current minimum wage rate.
From 1 October 2013, the adult rate for National Minimum Wage will increase by 12p to £6.31 an hour.
Busy Bees Benefits has always prided itself on excellent customer service in terms of the operation of the Childcare Voucher scheme, ease of registration, support and service standards. When registering for Busy Bees Benefits Childcare Vouchers, employees complete a basic earnings assessment electronically. They are asked to declare their gross earnings and any pre-tax outgoings – including any other salary sacrifice schemes such as cycle to work and pension schemes. The Busy Bees Benefits system then automatically calculates whether or not these deductions would mean they would fall below the minimum wage threshold. If the amount of vouchers they request takes them past the lower limit, the system automatically tells them the maximum amount of vouchers they can claim.
John Woodward, CEO of Busy Bees Benefits, said: “Busy Bees Benefits prides itself on great customer service and making life as easy as possible for employers operating our scheme and parents requesting our vouchers. Ensuring employers remain compliant with legislation is part of this service. Our system is simple to use, takes customers a minute to complete and protects employees whilst helping busy employers meet their legal obligations. ”
For further information visit www.busybeesbenefits.com or call 0330 333 9100.