Who must pay UIF?

Employers must pay unemployment insurance contributions of 2% of the value of each worker’s pay per month. The employer and the worker each contribute 1%. Contributions are paid to the Unemployment Insurance Fund (UIF) or the South African Revenue Services (SARS). Application The Unemployment Insurance Act and Unemployment Insurance Contributions Act apply to all employers and workers, but not to – workers … Read more

What is the maximum UIF payment?

UIF is calculated as 2% of an employee’s remuneration for UIF purposes, split evenly between the employee and employer, i.e. 1% contributed by the employee and 1% contributed by the employer.  Remuneration for UIF purposes is the employee’s remuneration, less certain exclusions such as commission, and is subject to a monthly income cap of R14 872. The … Read more

Why do I Need Life Insurance?

Risks and uncertainties are an unavoidable part of life’s design – death, accident and illnesses are built into the working of the universe, waiting to happen. Life insurance is man’s answers to such vagaries of life. With life insurance, an event like death cannot render your family financially helpless. Nowadays life insurance not only financially … Read more