Understanding and Calculating UIF (Grade 11 NSC Matric Mathematical Literacy): Flashcards
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UIF abbreviation meaning
UIF abbreviation meaning
Unemployment Insurance Fund
UIF purpose
UIF purpose
Financial support for workers who lose their jobs
Employee UIF contribution rate
Employee UIF contribution rate
1% of gross salary
Employer UIF contribution rate
Employer UIF contribution rate
1% of gross salary
Total UIF contribution rate
Total UIF contribution rate
2% of gross salary
UIF ceiling salary per month
UIF ceiling salary per month
R12,478.00
Maximum UIF deduction per month
Maximum UIF deduction per month
R124.78
Employee UIF calculation formula
Employee UIF calculation formula
1% × gross salary
UIF if salary exceeds R12,478.00
UIF if salary exceeds R12,478.00
Calculate on R12,478.00 only, max R124.78
Who contributes to UIF
Who contributes to UIF
Both employee and employer equally