A guide to the UIF
Provided by Business Partners Ltd, South Africa's leading investor in SMEs
The Unemployment Insurance Fund (UIF) acts as a temporary safety net for employees who are retrenched or unable to work due to illness or maternity leave. You have a moral and legal obligation to register with this fund and contribute on behalf of your employees. It's not as complicated or costly as you might think.
All workers who work for more than 24 hours per month must contribute to the UIF. Workers pay 1% of their salaries and their employees another 1% every month. It's your resonsilibity as the employer to deduct your employee's contribution from his or salary and pay it to the Fund together with your 1%.
You must also make sure that all your employees are registered with the Fund. If an employee has been registered and the contributions are paid, then that employee will be able to claim from the UIF, should they become unemployed for a reason beyond their control.
The document below will guide you through the steps you need to follow in order to register and pay the UIF. You have a legal obligation to pay UIF, and if you put yourself in your employees' shoes, you can understand the need to have this money to fall back on should the worst come to worst.
File Description: The How-to-Guide to the Unemployment Insurance Fund is a seven-page word document (doc) that is suitable for use with most word processing programs used in the Windows environment.
Copyright © 2016 Business Partners Ltd. All rights reserved.