Common use of COUNCIL FUNDS Clause in Contracts

COUNCIL FUNDS. The employer and the employee NBC Levy contribution shall be converted to a percentage–based contribution. The funds of the Council, which shall be vested in and administered by the Council, shall be provided in the following manner: (1) An amount equal to 0.23% of each employee’s wages per week, calculated at the qualified machinist rate of pay, up to a maximum of R1,62 per week, payable by means of a deduction from the employee’s wages for whom wages have been specified in this part of the Agreement. (2) An employer shall, in respect of each contributor from whose wages deduction are made in terms of subclause (1) above, contribute an amount equal to 0.33% of each employee’s wages per week, calculated at the qualified machinist rate of pay, up to a maximum of R2,61 per week, payable by the employer. (3) The total amount deducted, together with his contribution in terms of subclause

COUNCIL FUNDS. The employer and the employee NBC Levy contribution shall be converted to a percentage–based contribution. The funds of the Council, which shall be vested in and administered by the Council, shall be provided in the following manner: (1) An amount equal to 0.23% of each employee’s wages per week, calculated at the qualified machinist rate of pay, up to a maximum of R1,62 R2,29 per week, payable by means of a deduction from the employee’s wages for whom wages have been specified in this part of the Agreement. (2) An employer shall, in respect of each contributor from whose wages deduction are made in terms of subclause (1) above, contribute an amount equal to 0.33% of each employee’s wages per week, calculated at the qualified machinist rate of pay, up to a maximum of R2,61 R3,66 per week, payable by the employer. (3) The total amount deducted, together with his contribution in terms of subclause

COUNCIL FUNDS. The employer and the employee NBC Levy contribution shall be converted to a percentage–based contribution. The funds of the Council, which shall be vested in and administered by the Council, shall be provided in the following manner: (1) An amount equal to 0.23% of each employee’s wages per week, calculated at the qualified machinist rate of pay, up to a maximum of R1,62 R1,97 per week, payable by means of a deduction from the employee’s wages for whom wages have been specified in this part of the Agreement. (2) An employer shall, in respect of each contributor from whose wages deduction are made in terms of subclause (1) above, contribute an amount equal to 0.33% of each employee’s wages per week, calculated at the qualified machinist rate of pay, up to a maximum of R2,61 R3,16 per week, payable by the employer. (3) The total amount deducted, together with his contribution in terms of subclause

COUNCIL FUNDS. The employer and the employee NBC Levy contribution shall be converted to a percentage–based contribution. The funds of the Council, which shall be vested in and administered by the Council, shall be provided in the following manner: (1) An amount equal to 0.23% of each employee’s wages per week, calculated at the qualified machinist rate of pay, up to a maximum of R1,62 R1,84 per week, payable by means of a deduction from the employee’s wages for whom wages have been specified in this part of the Agreement. (2) An employer shall, in respect of each contributor from whose wages deduction are made in terms of subclause (1) above, contribute an amount equal to 0.33% of each employee’s wages per week, calculated at the qualified machinist rate of pay, up to a maximum of R2,61 R2,96 per week, payable by the employer. (3) The total amount deducted, together with his contribution in terms of subclause

COUNCIL FUNDS. The employer and the employee NBC Levy contribution shall be converted to a percentage–based contribution. The funds of the Council, which shall be vested in and administered by the Council, shall be provided in the following manner: (1) An amount equal to 0.23% of each employee’s wages per week, calculated at the qualified machinist rate of pay, up to a maximum of R1,62 R2,99 per week, payable by means of a deduction from the employee’s wages for whom wages have been specified in this part of the Agreement. (2) An employer shall, in respect of each contributor from whose wages deduction are made in terms of subclause (1) above, contribute an amount equal to 0.33% of each employee’s wages per week, calculated at the qualified machinist rate of pay, up to a maximum of R2,61 R4,29 per week, payable by the employer. (3) The total amount deducted, together with his contribution in terms of subclause