Avoid fines of up to 10% by paying your skills development levy!
The Skills Development Levy has been under the spotlight again this week. Many business owners are confused about what exactly the skills development levy is for - do you have to pay it in or do you get to pay it back? We've got the answers below...
Karlien Scholtz clarifies how to claim for skills development on HR Pulse
this week. The basic condition is that your company contributes towards the Skills Development Fund to help develop and improve skills if your company has an annual payroll in excess of R500 000.
Here's how the SDF works and why you need to pay it!
By paying SARS a monthly levy, companies can claim back 55% of the levy they pay. And if you don't pay? Companies who don't pay the SDL will be liable for penalties and fines totalling 10% of their SDL.
The easiest way to satisfy labour inspectors that you know your SDF duties
We've made it easy for you to avoid a fine and satisfy the labour inspectors that you know your skills development duties with our Skills Development Act (SDA) wall chart. By law you must have summaries of the Employment Equity Act (EEA) and the Basic Conditions of Employment Act (BCEA) where all employees can see it. Get yours quickly
Want to find out more? The Practical Guide to Human Resources Management
will show you how you can train your staff to deliver their best performance and qualify to claim back 50% of your skills development levy! Have you got your copy? If not, place your order right now
Note: 4.75 of 2 votes