n Tax Breaks Newsletter - UIF contributions
|Article Title||UIF contributions|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Tax Breaks Newsletter|
|Publication Date||Oct 2005|
Extracted from text ... THE Ministers of Finance and Labour have increased the monthly maximum remuneration for purposes of calculating UIF contributions from R8 836 to R10 966 with effect from 1 October 2005. The maximum monthly contribution in respect of an employee who earns more than R10 966 per month will amount to R219.32 (R10 966 x 2%) as from October 2005. This represents an increase of R42.60 (R219.32 - R176.72) i.e. R21.30 each by the employee and employer. Employers using weekly and fortnightly payrolls that do not make provision for cents, may round the cents off to the nearest rand when ..
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