Payroll software updates essential for metal, engineering industries wage and benefit fund increases

Issued by COPYWISE for Sage HR & Payroll
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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Pastel Payroll

Pastel Payroll, part of Softline and The Sage Group, is one of the leading developers of payroll and HR software solutions and services in South Africa as well as the rest of the African continent. Skills, experience and innovation in this field accumulated over many years in business confirm Pastel Payroll's leading position in the SME market. Pastel Payroll & HR provides a wide range of software solutions from start-up to medium as well as larger sized enterprises. It offers easy-to-use, feature-rich and flexible payroll and HR software solutions to ensure businesses are kept up-to-date and fully compliant with changing legislative requirements - its software does it all for you.

Softline

Softline is a leading provider of business software and related services. Founded in 1988 by Ivan Epstein, Alan Osrin and Steven Cohen, Softline was established during the formative years of the business software industry. While Softline's heritage is in the SME market, the group also offers expertise and solutions that meet the needs of specific industries and larger organisations. In 2003, Softline was acquired by The Sage Group, a FTSE 100 company. Softline has a solid track record offering customers local expertise backed by the global Sage brand. The group delivers quality software solutions to make customers' business lives easier.

Sage Group

The Sage Group is a leading global supplier of business management software and related products and services, principally for small to medium-sized enterprises. Formed in 1981, Sage was floated on the London Stock Exchange in 1989. Sage has more than 6 million customers and more than 13 500 employees worldwide. It operates in over 24 countries covering the UK, Europe, North America, South Africa, Australia, India and China. For further information, please visit www.sage.com.

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