Employment funding alternatives during COVID-19 but you need to act TODAY

MD’s full email sent out for this post | https://bit.ly/2UjCIZh

Due to the unprecedented COVID-19 outbreak, employers are faced with difficult decisions regarding staffing and costs during the lockdown period and thereafter including what to do in the case where an employee is in self-quarantine.

We have prepared a summary of the alternatives which could assist you in your making informed decisions:

  1. TERS – Temporary Employer/Employee Relief Scheme  (https://tvetsa.org.za/ters):
  • Came into effect on 11 December 2019
  • Assists businesses in distress to recover and to save jobs of workers who would otherwise have been retrenched
  • Workers remain employed but lose their normal salary – instead they receive a training allowance (75% of basic wage up to R12 840 p/m + employer encouraged to top-up the remaining 25%)
  • Employer carries the cost of a basic package of social benefits – UIF, provident/pension fund and death/disability cover and can agree to cover Medical Aid benefits
  • All training costs incurred are paid for by the SETA
  • Employer requirements include compliance with UIF legislation, distressed company must demonstrate it has/will embarked on a sustainability programme which will result in job preservation at the expiry of the funding agreement
  • Application process (infoTERS@labour.gov.za) and CCMA (MosaB@ccma.org.za)

To read this full email sent out by MD, click here!

 

For further details of this and other Covid-19 information,
please see our dedicated website page on

https://www.mdacc.co.za/index.php/covid-19/

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