How much is 1% of UIF?

The Unemployment Insurance Fund (UIF) contribution rate is currently set at 1% of your gross salary, with an additional 1% contributed by your employer, resulting in a total contribution of 2% of your gross salary. To calculate 1% of your gross salary for UIF contribution purposes, you simply need to divide your gross salary by … Read more

What is the maximum UIF payout per month?

The maximum UIF (Unemployment Insurance Fund) payout per month is calculated based on your previous salary and the number of days you are eligible for benefits, up to a maximum of 365 days (12 months) in a four-year cycle. As of April 2023, the maximum daily benefit that can be paid out by the UIF … Read more

Is UIF calculated on gross or basic salary?

UIF (Unemployment Insurance Fund) contributions are calculated based on your gross salary, which includes all taxable income and benefits, such as bonuses and overtime pay. The UIF contribution is deducted from your gross salary before any other deductions such as tax, medical aid, or pension contributions. However, when it comes to calculating your UIF payout, … Read more

How do I calculate my UIF payout?

The calculation of your UIF (Unemployment Insurance Fund) payout depends on several factors such as your previous income, the duration of your unemployment, and the reason for your unemployment. Here are the general steps to calculate your UIF payout: For example, if your average salary is R10,000 and your daily benefit is R333, your maximum … Read more