Human Capital
Increase in Unemployment Insurance Fund (UIF) contributions By Hendrik van Deventer
Employers should note that effective 1 October 2012, the maximum remuneration on which UIF contributions are calculated, has been increased from R 12,478 per month to R 14,782 per month.
This increase will result in additional employment related expenditure for most employers while it will further negatively affect certain employees’ monthly take home pay.
Employers must take note of this change and ensure that their payrolls are updated accordingly. We would also recommend that employers communicate this fact to their employees to reduce the number of queries the payroll office might receive at month end.
