South African Council for Educators Act, 2000
R 385
Labour Relations Act, 1995 (Act No. 66 of 1995)NoticesBargaining Council for the Furniture Manufacturing IndustryKwaZulu NatalExtension to Non-Parties of the Main Collective AgreementPart 2Annexure B8. Provident Fund |
The Provident fund employee and employer contribution is agreed to be phased in and accumulated as follows:
| 8.1 | Year 1 - 1,81% of actual wages |
| 8.2 | Year 2 - 3,62% of actual wages |
| 8.3 | Year 3 - 5,43% of actual wages |
| 8.4 | Year 4 - 7,25% of actual wages |
The phase-in is applicable to employee and employe r contributions towards the retirement fund and will result that employees contribute 7,25% and employers contribute 7,25% at the commencement of year 4.
The "New employees" clause shall apply to the first three months of employment only and the phase-in of the Provident fund shall be implemented from month four.
[Part 2 Annexure B(8) inserted by section 4 of Notice No. R. 3666 of GG48959, dated 14 July 2023]
