South African employers ought to be aware that the Minister of Labour has gazetted an increase to the UIF limit, which relates to unemployment benefits in terms of the Unemployment Insurance Act, 2001 (Act no 63 of 2001).
Accordingly the scale of benefits referred to in Government Notice No. 588 has been amended and as of 1 April 2017 the UIF earnings limit has been increased from R178 464 per annum to R212 539 per annum (or R14 872 per month to R17 712 per month).
It is very important to note that this notice is exclusively for scale of benefits and does not pertain to payroll related UIF.
We are all aware of the increasingly difficult economic conditions that businesses find themselves in and this latest development adds to the list of challenges that decision makers face.
As always, CRS Technologies is positioned to assist businesses manage this cost and adjustment in benefits. There is no doubt that having a reliable, experienced partner in your corner is a major advantage and will ensure cost savings!
Contact our legislation team at email@example.com if you require any additional information.