PROVIDENT FUND CONTRIBUTIONS. (i) The Fund continues as part of this Agreement and registered with the Financial Services Board (FSB) and administered in accordance with the Xxxxxxx Xxxxx Xxx, 0000 (Act 24 of 1956) (as amended).
(ii) Every employee under the jurisdiction of this Part of the Agreement shall be a member of the Provident Fund and the Rules of the Fund as registered and amended from time to time in terms of the Pension Fund Act shall apply
(iii) The Council shall ensure compliance with the Rules of the Fund relating to the payment of contributions and the submission of monthly returns and follow its dispute resolution procedure to obtain such compliance.
(iv) The Fund shall be administered in accordance with the Fund Rules specified for this purpose by the Fund’s Board of Trustees with the approval of the Financial Services Board and in terms of the Pension Fund Act
(v) Auditors as defined in the applicable law shall be appointed by the Board of Trustees who shall audit the account of the Fund in compliance with the relevant legislation
(vi) A copy of the annual audited financial statement and the Approved Rules by the Financial Services Board shall be submitted to the Registrar of Labour Relations as well as the Financial Services Board.
PROVIDENT FUND CONTRIBUTIONS. 3.1 Provident Fund contributions shall be payable to the Council at the prescribed rates by the employer and employee when more than 20 hours’ wages per week are payable to an employee. To determine the number of the hours worked by the employee, the calculation must include the ordinary hours worked by the employee as well as the hours which would ordinarily have been worked by the employee on:
3.1.1 paid public holidays;
3.1.2 trade union representative leave days;
3.1.3 the first 3 days per annum of paid sick leave days on condition that an acceptable medical certificate is presented by the employee to his employer and that such sick leave days do not fall on a Monday or a Friday or on the day before or after a public holiday; and
3.1.4 family responsibility leave days for the first 2 days only which are related to the death of an employee’s spouse, life partner, employee’s parent, adoptive parent, grandparent, child, adopted child, grandchild or sibling and upon submission of the relevant death certificate by the employee to his employer.
3.2 The Provident Fund contributions payable to the Council shall be determined as follows for:
PROVIDENT FUND CONTRIBUTIONS. The Fund continues as part of this Agreement and registered with the Financial Services Board (FSB) and administered in accordance with the Xxxxxxx Xxxxx Xxx, 0000 (Act 24 of 1956) (as amended).
PROVIDENT FUND CONTRIBUTIONS. 3.1 Provident Fund contributions shall be payable to the Council at the prescribed rates by the employer and employee when more than 20 hours’ wages per week are payable to an employee. To determine the number of the hours worked by the employee, the calculation must include the ordinary hours worked by the employee as well as the hours which would ordinarily have been worked by the employee on (see also paragraph 3.2):
3.1.1 paid public holidays;
3.1.2 trade union representative leave days;
3.1.3 the first 3 days per annum of paid sick leave days on condition that an acceptable medical certificate is presented by the employee to his employer and that such sick leave days do not fall on a Monday or a Friday or on the day before or after a public holiday; and
3.1.4 family responsibility leave days for the first 2 days only which are related to the death of an employee’s spouse, life partner, employee’s parent, adoptive parent, grandparent, child, adopted child, grandchild or sibling and upon submission of the relevant death certificate by the employee to his employer.
3.2 The Provident Fund contributions payable to the Council shall be calculated on a sliding scale per wage band for all Occupation Skills Levels, as follows:
3.2.1 Wages from: 5% of normal weekly wages May 2023 – R0 to R1 284-00 p/w from the employee per week, May 2024 – R0 to R1 361-00 p/w calculated on the May 2025 – R0 to R1 443-00 p/w establishment’s normal ordinary hours of work per week plus an equal amount from the employer.
PROVIDENT FUND CONTRIBUTIONS. (1) Employees’ contributions: Every employer shall, each week or each month, as the case may be, deduct from the wages of each of his weekly paid or monthly paid employees, in respect of whom wages are prescribed in this part of the Agreement, and who has worked 9 ordinary hours or more during any pay week, an amount of equal to 4,0% of his wages towards a provident fund or a retirement fund administered by the Council, provided this is confirmed in a plant level ballot by the majority of employees. No deductions shall be made from the wages of an employee who is 65 years of age or older.
PROVIDENT FUND CONTRIBUTIONS. INCENTIVISED WAGE NATIONAL FRAMEWORK AGREEMENT (Annexure E)..................
PROVIDENT FUND CONTRIBUTIONS. (1) Employees’ contributions: Every employer shall, each week or each month, as the case may be, deduct from the wages of each of his weekly paid or monthly paid employees, in respect of whom wages are prescribed in this part of the Agreement, and who has worked 9 ordinary hours or more during any pay week, an amount of equal to 4,0% of his wages towards a provident fund or a retirement fund administered by the Council. No deductions shall be made from the wages of an employee who is 65 years of age or older.
PROVIDENT FUND CONTRIBUTIONS. (1) The Fund continues as part of this Agreement and registered with the Financial Services Board (FSB) and administered in accordance with the Xxxxxxx Xxxxx Xxx, 0000 (Act 24 of 1956) (as amended).
(2) Every employee under the jurisdiction of this Part of the Agreement shall be a member of the Provident Fund and the Rules of the Fund as registered and amended from time to time in terms of the Pension Fund Act shall apply.
(3) The Council shall ensure compliance with the Rules of the Fund relating to the payment of contributions and the submission of monthly returns and follow its dispute resolution procedure to obtain such compliance.
(4) The Fund shall be administered in accordance with the Fund Rules specified for this purpose by the Fund’s Board of Trustees with the approval of the Financial Services Board and in terms of the Pension Fund Act.
(5) Auditors as defined in the applicable law shall be appointed by the Board of Trustees who shall audit the account of the Fund in compliance with the relevant legislation.
(6) A copy of the annual audited financial statement and the Approved Rules by the Financial Services Board shall be submitted to the Registrar of Labour Relations as well as the Financial Services Board.
PROVIDENT FUND CONTRIBUTIONS. 3.1 Provident Fund contributions shall be payable to the Council at the prescribed rates by the employer and employee when more than 20 hours’ wages per week are payable to an employee. To determine the number of the hours worked by the employee, the calculation must include the ordinary hours worked by the employee as well as the hours which would ordinarily have been worked by the employee on:
3.1.1 paid public holidays;
3.1.2 trade union representative leave days;
3.1.3 the first 3 days per annum of paid sick leave days on condition that an acceptable medical certificate is presented by the employee to his employer and that such sick leave days do not fall on a Monday or a Friday or on the day before or after a public holiday; and
3.1.4 family responsibility leave days for the first 2 days only which are related to the death of an employee’s spouse, life partner, employee’s parent, adoptive parent, grandparent, child, adopted child, grandchild or sibling and upon submission of the relevant death certificate by the employee to his employer.
3.2 The Provident Fund contributions payable to the Council shall be calculated on a sliding scale per wage band for all Occupation Skills Levels, as follows:
3.2.1 Wages from R0 to R1 200 per week 5% of normal weekly wages from the employee per week, calculated on the establishment’s normal ordinary hours of work per week plus an equal amount from the employer.
3.2.2 Wages from above R1 200 to R1 500 p/w 5.2% of normal weekly wages from the employee per week, calculated on the establishment’s normal ordinary hours of work per week plus an equal amount from the employer.
3.2.3 Wages from above R1 500 – R2 000 p/w 5.35% of normal weekly wages from the employee per week, calculated on the establishment’s normal ordinary hours of work per week plus an equal amount from the employer.
3.2.4 Wages from above R2 000 per week 5.5% of normal weekly wages from the employee per week, calculated on the establishment’s normal ordinary hours of work per week plus an equal amount from the employer.
3.2.5 Working employers: 11% of a xxxxxxx’x prescribed weekly wage.
PROVIDENT FUND CONTRIBUTIONS. (1) Employees’ contributions: Every employer shall, each week or each month, as the case may be, deduct from the wages of each of his weekly paid or monthly paid employees, in respect of whom wages are
