How an entity should account for its contribution to a defined contribution superannuation plan as per IAS 19?

Defined contribution superannuation plan

Contributions payable to defined contribution funds are recognised as expenses in the period that the employee renders services, unless another standard permits the cost of employment benefits to be allocated to the carrying amount of an asset, such as inventory.

If the amount paid to the defined contribution fund by the entity during the year is less than the amount payable in relation to services rendered by employees, a liability for unpaid contributions must be recognized.

The liability is measured at the undiscounted amount payable unless it is due more than 12 months after the end of the period, in which case it is discounted.