Paul Holcroft, Associate Director at employment law and HR consultancy firm Croner, explained how these changes will look in practical terms.
He said: “Employers will need to continue paying employer National Insurance and pension contributions for not only August but September and October as well.
“Once government contributions begin to decrease, employers must also top this up to ensure that furloughed employees still receive 80 percent of their wages up to £2,500 per month.
“For example, a 70 percent grant up to £2,187.50 per month will attract a 10 percent top-up from employers to a maximum of £312.50 per month; and a 60 percent grant up to £1,875 per month will attract a 20 percent top-up to a maximum of £625 per month.”
Published at Sat, 01 Aug 2020 06:24:00 +0000