UIF contributions increased as of 1st of June 2021
Employers note that the monthly maximum remuneration for UIF contributions increased as of 1 st of June 2021.
Before you finalise your June payroll and pay over the June UIF to SARS, you need to know that the Minister of Finance has made a last-minute announcement as follows:
"There is an increase of monthly remuneration liable to UIF contributions from 1 June 2021. The Minister of Finance announced by notice in the Government Gazetted on Friday, 28 May 2021, that the contributions to the unemployment insurance fund must be determined on remuneration not exceeding R 17 712 per month.
• This increase is applicable to remuneration paid or payable by an employer to an employee during any month from 1 June 2021.
• The previous limit of R 14 872 per month was therefore only applicable to remuneration paid or payable by an employer to an employee for any month up to 31 May 2021.
All employers and payroll providers are requested to immediately implement the increased remuneration amount to ensure that the unemployment insurance contributions for June 2021 is correctly determined and paid not later than 7 July 2021."
Feel free to contact us for more information and assistance.