UIF Stands for Unemployment Insurance Fund, this applies only to unemployed people (people who just got laid-off), and or those who are unable to work, because of maternity, illness or adoption leave. In the unfortunate event that the contributor is deceased, dependents will also get the UIF.
UIF is governed by the Unemployment Insurance Act, 2001 (the UI Act) as well as the Unemployment Insurance Contributions Act, 2002 (the UIC Act) in South Africa. Employers who are registered with SARS for employees’ tax will have to register to pay for UIF contributions. Employees pay 1% of the remuneration paid by the employer to the employee. A total of 2% is paid by the employer (1% contributed to the employee and 1% for contributed by the employer).
The UIF operation started on 1 April 2002
Visit the uFilling website for more information.LISTEN TO LIVE RADIO
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