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JULY 2020 – SOUTH AFRICA

UIF TERS EXTENDED PERIOD

It is important that employers note the following:

Extension of COVID-19 relief payments to 15 August 2020

On 21 July 2020 the Employment and Labour Ministry announced an extension to the COVID-19 TERS relief payments.

Following the President’s announcement to extend the life of the Disaster Management Act until 15 August 2020, the decision was taken to similarly extend the UIF TERS benefits.

The benefit structure and existing criteria remain the same.

April, May and June applications will be closed at the end of July 2020. Valid applications already received for these months will be processed.

Employees who are put on leave, have been laid off temporarily, or whose employers cannot afford to pay their full salaries due to the coronavirus crisis, are entitled to the benefits.

The maximum amount an employee will receive is R6,730 a month (based on the threshold of R17,700), while the minimum amount is R3,500 a month.

Contact our legislation team at info@crs.co.za if you require any additional information.
© 2020 C
RS Technologies (Pty)Ltd. All Rights Reserved.

JULY 2020 – SOUTH AFRICA

UIF TERS INTRODUCES NEW MEASURES

It is important that employers note the following:

UIF TERS Bank Account Verification

To prevent companies from falling prey to criminal elements, the Unemployment Insurance Fund (UIF) has introduced new and stricter controls to verify banking details.

The fund has received numerous fraud complaints after it emerged that certain individuals managed to change their company’s banking details to their own.

The new rule requires applicants to insert either the enterprise number (CK/CIPC) or the ID number of the bank account holder in the TERS online portal, in order to further verify banking details against the authorised claimant.

This is critical to ensure banking details are verified before any TERS payment is authorised. Failure to do so will lead to more delays in the payment process.

Following the introduction of the new safety and security changes, the fund has had to delay payments. A turnaround time of two days is expected as the funds verifies and validates accounts to ensure that fraud at company level is reduced and eliminated as far as possible.

Contact our legislation team at info@crs.co.za if you require any additional information.
© 2020 C
RS Technologies (Pty)Ltd. All Rights Reserved.

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