Johannesburg, 28 Jun 2012
Wage rates for workers employed in the metal and engineering industries are to increase by 7% to 8%, according to the recent Government Gazette, published by the Department of Labour.
The increase takes effect on 1 July 2012, in accordance with the industry settlement agreement published in September last year, and a deadline of 31 July 2012 has been set for wage exemption applications.
The Metal Industries Benefit Fund Administrators (MIBFA) have, at the same time, announced that they are increasing contribution rates for the Engineering Industries Pension Fund (EIPF) and Metal Industries Provident Fund (MIPF), for employees and employers to 6.7% of pensionable remuneration.
“The software is accompanied by instructions to companies so that they can quickly and easily automate their payroll application to apply both the wage percentage increases and the revised benefit fund contributions before processing any contributions for July,” said Softline Pastel Payroll technology director, Phil Meyer.
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