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In the 2015 Budget, the Minister proposed to reduce the remuneration threshold against;which contributions to the UIF are calculated from the current monthly amount of R14 872 to;R1 000, for a period of one year. The proposal was aimed at providing support to the;economy by allowing workers and employers to keep and use for themseleves R15 billion that would otherwise have gone to UIF. The UIF currently has an accumulated surplus of more than R72billion, which is well in excess of annual expenditure on benefits. The UIF proposal was also intended to reduce the rate of accumulation of this surplus.
For more details download the full media statement by clicking on the link below.
Payroll Administrators, please remember to change the UIF calculation in your payroll to reflect the new ceiling amount of R 17,712 per month, that comes into effect from 1 June 2021. (Govt gazette number 44641). Please E-mail help@payslip.co.za if you require assistance.
...Just because the website ends with .co.za does not mean the company is registered in South Africa. If you have a dispute, or need to take legal action, will you have to do that in the USA? If you are considering cloud payroll, please look for local suppliers that: Is a registered...
Employers, please remember to extract the payroll information from the February Year End payroll and upload it to the latest version of SARS E@syfile for reconciliation. The reconciliation is due by 31 May but please submit early in order to avoid congestion. All our Payroll systems produce electronic extracts so...
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