ADDITIONAL PROVIDENT FUND CONTRIBUTIONS Sample Clauses
The 'Additional Provident Fund Contributions' clause establishes the employer's obligation or option to make contributions to an employee's provident fund beyond the statutory minimum required by law. In practice, this clause may specify the percentage or amount of extra contributions, the eligibility criteria for employees to receive these additional payments, and the timing or frequency of such contributions. Its core function is to enhance employee benefits and retirement savings, thereby supporting talent retention and providing financial security beyond the legal baseline.
ADDITIONAL PROVIDENT FUND CONTRIBUTIONS. 4.1 Additional Provident Fund contributions shall be payable to the Council at the prescribed rates by the employer and employee when more than 20 hours’ wages per week are payable to an employee. To determine the number of the hours worked by the employee, the calculation must include the ordinary hours worked by the employee as well as the hours which would ordinarily have been worked by the employee on:
4.1.1 paid public holidays;
4.1.2 trade union representative leave days;
4.1.3 the first 3 days per annum of paid sick leave days on condition that an acceptable medical certificate is presented by the employee to his employer and that such sick leave days do not fall on a Monday or a Friday or on the day before or after a public holiday; and
4.1.4 family responsibility leave days for the first 2 days only which are related to the death of an employee’s spouse, life partner, employee’s parent, adoptive parent, grandparent, child, adopted child, grandchild or sibling and upon submission of the relevant death certificate by the employee to his employer.
4.2 All employees and all employers, including working employers who do not qualify for membership of either the Furnmed Sick Benefit Society or the NUFAWSA Sick Benefit Society, shall pay additional Provident fund contributions equal to the Furnmed Sick Benefit Society’s member contributions:
4.2.1 Additional Provident Fund contributions payable (for all areas excluding the Free State Province)
4.2.1.1 Employees in Industry - refer to clause 5.1.2 and clause 5.1.3 below.
4.2.1.2 Employers in Industry - refer to clause 5.1.2 and clause 5.1.3 below.
4.2.1.3 Working employers in Industry - refer to clause 5.1.6 below.
4.2.2 Additional Provident Fund contributions payable (for the Free State Province ONLY)
4.2.2.1 Employees in Industry - refer to clause 5.2.2 and clause 5.2.3 below.
4.2.2.2 Employers in Industry - refer to clause 5.2.2 and clause 5.2.3 below.
4.2.2.3 Working employers in Industry - refer to clause 5.2.6 below.