The amount of your first UIF (Unemployment Insurance Fund) payment depends on your previous earnings and the amount that you have contributed to the UIF. In general, the UIF pays out a percentage of your previous salary to help you manage financially during your period of unemployment. The amount of this percentage is determined by a sliding scale, with lower earners receiving a higher percentage of their previous salary and higher earners receiving a lower percentage.
The UIF payments are calculated based on a formula that takes into account your salary history over a period of four years prior to your job loss. The formula considers your total earnings and the number of months that you have contributed to the UIF during that period.
As of September 2021, the maximum monthly UIF benefit amount is R6,730.58 per month. However, the actual amount that you receive may be lower depending on your previous earnings and the amount that you have contributed to the UIF.
It’s important to note that the UIF payments are meant to provide temporary financial assistance during your period of unemployment and are not meant to replace your full salary.