UIF is calculated as 2% of an employee’s remuneration divided equally between the employee and the employer, i.e. 1% contributed by the employee and 1% contributed by the employer.
Is UIF based on gross or basic pay?
Your employer will deduct 1% of your gross salary each month and contribute it to the UIF. In addition, the employer will contribute 1% to the fund. This money accumulates and should you need UIF benefits, you can claim from the fund.
What is the maximum monthly UIF payment?
Please keep in mind: As of 1 June 2021, the maximum monthly wage is R17 712 or R212 544 per year. Employees earning more than this amount have their contribution calculated using their maximum earnings ceiling.
Is UIF money refundable?
The benefits can be paid for a maximum of 365 days over a four-year period. Benefits can be paid for a maximum of 365 days in any four-year period, subject to credits
UIF pays what percentage of salary?
You will be paid a percentage of what you would have earned if you had worked every day. The maximum amount you could be paid is 58% of your daily earnings. This percentage applies to lower-wage employees. The higher your salary, the lower your percentage will be.
Does UIF money expire?
Benefits can be paid for a maximum of 365 days over a four-year period. Benefits can be paid for up to 365 days in any four-year period, subject to credits.
