Curated by Lezé
1 June 2023
- COIDA – what is it?
- Breaking news
- Helpdesk Tips
- Staff Bio -Lisa August
- New product features
- Paymaster Announcement – Skills development webinar
COIDA – What is it about?
This compensation fund provides compensation for employees who are injured, or contract diseases through the course of their employment.
Since 1993 the Compensation for Occupation Injuries and Diseases Act (COIDA) covers all employees, not just those in lower income groups. Increasing the compensation category has resulted in a bigger pool of funds available, although office workers etc are less likely to be injured at work ( cross-subsidisation).
Under COIDA, all types of work relationships are covered, including those through labour brokers.
And if someone is diagnosed with a disease as a result of their employment, they will be compensated, even if they are no longer employed by that company. Their calculated earnings will be adjusted for inflation to what they would be earning if still working.
The COIDA also provides a no-fault system of compensation for those injured or who contract diseases during their employment. This means the aggrieved party does not have to prove any party was at fault for their accident, to receive compensation.
The Act stipulates;
- who contributes to the fund
- the amount contributed
- who is covered
- type of injuries and diseases covered
- the size of the compensation
All employees are obliged to be registered with a carrier. This is either the Compensation Commissioner of the Compensation Fund or a designated mutual association. Employees must provide all the particulars of their business to this carrier, and make sure these are kept up to date. To increase compliance of companies to this fund, there are various policing structures that exist. For instance, Health and Safety inspectors will check that the company pays compensation tariffs when they do an inspection visit.
If an employee files a claim and their employee is not registered, the claim will still be processed through the Compensation Fund. The Fund will then follow up with the unregistered employer to impose a fine (the employer will be liable for the entire cost of the compensation if they are not registered).
Paymaster’s payroll has a COIDA report that provides a breakdown of figures to complete the statement of earnings for the Compensation Fund.
The Director General of Employment and Labour published in the Government Gazette 48065 (Notice 1617) increasing the OID earnings threshold as follows:
- from R529 264 per annum (limit for 2022/2023),
- to R563 520 per annum effective 1 March 2023 (limit for 2023/2024).
The OID earnings threshold is the maximum amount of earnings per annum per employee on which an assessment of an employer is calculated in terms of section 83(8) of the Compensation of Occupational Injuries and Diseases Act (COIDA).
Please contact our Helpdesk for more information, 021 712 7333 or firstname.lastname@example.org
– Provided by Ian Hurst –
Employment Equity Act Amendments
The amendments to the Employment Equity Act … What can you do?
In April the president signed the amendments to the EE Act 55 of 1998. Changes to Section 15 regarding the setting of sectoral specific, numerical targets for employment equity compliance has caused some consternation. Questions are being asked whether regional or national demographics will be considered when setting these targets.
So what can you do? Join forces with other companies in your economic or industry sector, and send comments to the minister (department of labour). He will have to take note of your consolidated voices. You have until 12 June 2023 to do this.
Review the proposed sector-specific EE targets and find out how and where you can submit your comments.
Read the full article about Employment Equity
Repo rate increase
SA Reserve Bank Monetary Policy Committee delivered the May 2023 MPC statement. The MPC decided to increase the repurchase rate by 50 basis points to 8.25% per year, with effect from 26 May 2023.
Up from 7.75% from the previous MPC. The next MPC meeting is on 20 July 2023.
How to remove SDL
The Skills Development Levy (SDL) is a compulsory levy scheme for the purposes of funding education and training under the Skills Development Act of South Africa and is payable by employers on a monthly basis.
The Skills Development Levy exemption is configured on company and employee level. According to the Skills Development Act, certain employers are eligible for exemption from paying SDL. For example, if an employer’s total remuneration for all employees within a 12-month period does not exceed R 500 000, they are exempt from paying this levy.
Can SDL be claimed back? Yes – contact Paymaster for assistance.
Click on below instructions on how to remove SDL
Please call our Helpdesk for your queries –
021 712 7333 email@example.com or
WhatsApp us – 081 711 1276
How to get a tax breakdown in PDF
To confirm that the tax paid reflected on a payslip is correct, it is essential to review the tax breakdown available on the Edit Payslip screen. This breakdown provides a detailed calculation of the taxes. It is worth noting that discrepancies can arise between months due to variations in individual employees’ tax payments from the previous tax year compared to the current year. Therefore, checking the tax breakdown is crucial in order to avoid any confusion and ensure precise tax calculations.
Click below for directions on how to get a tax breakdown in PDF
Meet Lisa August
The charming Astrelecia Arizona August (or Lisa) has been with Paymaster since March 2022, working as a payroll administrator. She explains: “I’m responsible to get the work done, keep the clients happy and to do what I come to work to do – that is to do my job.” She soon realized that at Paymaster you have to be an all rounder and she is prepared to do any task asked of her, even if it is not her direct responsibility.
Astrelecia grew up on the Cape flats outside Cape Town and has one older sister.
She matriculated from Westridge High School and completed a NQF 5 certificate at Boston City Campus in Cape Town. She finished her certificate through a learnership from ITC business administration and worked in the customer care department for 3 years. This was a great boost for her career as it opened doors for her into the business sector. From here she worked in credit control at a call center. And then she spent 9 years working at a pharmacy, where she fulfilled many roles ,from helping at the till, serving customers, and assisting at the clinic and prescription counter.
Astrelecia loves a challenge, and decided to take her career in a new direction. The Paymaster job came at just the right time . She sailed through the training and is happy with her new direction of work. Her passion to keep going is driven by the desire to provide her children (a son and daughter of 15 and 8) with a better life. She is an enthusiastic, hard worker and often asks for greater responsibility , all for her precious children. She is often filled with gratitude, and makes sure to show it. She notes :”If you don’t show appreciation, people will think you don’t even appreciate the little things.” Today, Astrelecia processes the payrolls for 10 clients and is also part of the client care team. This involves checking all the client’s payrolls and sending them out. She also assists the marketing team with social media posting. Lisa is an energetic, passionate addition to the Paymaster team. Her enthusiasm and drive are bound to take her places. We are excited to have her onboard.
New Product Features
Reports | Additional report field available in the standard reports
An additional report field has been added to the standard reports. This field is called “Does not Qualify for Employment Tax Incentive” and is sourced from the Basic Profile of the employee.
The field applies to South African entities. This field is used to identify employees who do not qualify for the Employment Tax Incentive. The check box will be selected for employees who do not meet the criteria for the incentive program (on the employee basic profile). This information is important for businesses to report on and manage their incentive program eligibility accurately.
Adding this report field to the standard report gives customers access to more comprehensive and accurate data on employee eligibility for the Employment Tax Incentive program.
See the below option available under the additional report fields on the standard reports:
Standard Payslip | ID and Passport numbers protected
Protecting personal information is a priority for us, and we have recently made an important enhancement to the non-confidential header of the standard payslip to safeguard sensitive information further. Specifically, depending on the identification type, we have masked the first 7 digits of the ‘Identity No’ or ‘Work Permit/Passport No’ field.
This is particularly important given the prevalence of identity theft and other types of cybercrime in today’s digital landscape.
This enhancement is important for ensuring that personal identifiable information is not exposed.
This is particularly important given the prevalence of identity theft and other types of cybercrime in today’s digital landscape.
Any issues can be directed to firstname.lastname@example.org
Our partnership with Biosyn and Zuydam Konsult is another way that Paymaster endeavors to deliver greater value to our clients.
Building Trust between Employer and Employee
Unlocking the potential of Time and Attendance and Payroll integration
Do you want to reduce the time it takes to complete your payroll?
Paymaster’s comprehensive Time and Attendance Solution is designed to simplify your data retrieval process. With our integrated system, the burden of back-end data administration rests with us, freeing up your payroll personnel to focus on their core responsibilities.
Goodbye to manual calculations and time-consuming attendance monitoring…
The future is in the seamless integration between time and attendance systems and our payroll solutions….
Paymaster has you covered
With our automated time and attendance system, you’ll experience improved accuracy in overtime payments from month one.
If you are interested in learning more about Paymaster Time and Attendance system, be sure to visit our website for more information. There you can find detailed articles, product reviews etc to help you make an informed decision about your time and attendance system. For more information on
simply click here.
Discover the benefits of Paymaster Time and Attendance!
or contact Glen Coburn at email@example.com, or call +27 836791311.
Paymaster Accounting Solutions
Simplify your finances with Xero and Zuydam Konsult
Are you overwhelmed by tedious financial admin tasks?
Imagine a world where every transaction seamlessly integrates with your financial data, freeing you from endless hours of administrative tasks.
With Paymaster and Zuydam Konsult’s partnership, you can turn your frustrations into satisfaction by switching to cloud-based accounting with Xero. You’ve already experienced the joy of automating payroll with Paymaster, so why not automate your entire business finances for a smoother journey?
Paymaster and Xero integration Benefits:
- seamless integration to your general ledger
- the ease of accounting with Xero
- access to great reports
- secure cloud backups
- anytime, anywhere accounting and payroll management
Don’t let financial frustrations hold you back. Take the first step towards a simplified and streamlined financial future.
Welcome to the payroll news updates! Here, you will find the latest updates and information on all things payroll. We’ve got you covered from employee payroll and payroll tax to payroll management and payroll software.
You’ll find the weekly and Africa updates and resources to help you stay informed and on top of your payroll responsibilities and legislative changes you should know.
- Config Menu | Employment Equity Configuration menu item has been moved
- South Africa | COIDA Report Enhancements
- South Africa | Resubmit Tax Certificates for Selected Employees
- South Africa | UIF Declaration File Name Enhancement
- eSwatini | PAYE Monthly Remittance Report enhancement
- Malawi New Tax Tables 2023 – 2024
Welcome to our “Free Payroll Knowledge” Q & A series! We understand that payroll can be a complex and challenging task for small businesses, which is why we want to help. We’re excited to announce that our Q & A virtual sessions will take place twice a month, on a Wednesday at 10:00-10:30. The series will be an open discussion format.
you ask any payroll question, we have the answer.
We will be announcing the details of each webinar on our social media channels, so be sure to follow us to stay updated. You can join the webinar using the link we will provide.
- 24 May
- 7 June
Who is this webinar for?
For payroll professionals increasing their skill base, or those new to this function. Or maybe you’re exploring Paymaster as a payroll option….this virtual series is aimed at all of you.
SDL & SKILLS DEVELOPMENT WEBINAR
Can SDL be claimed back? – Yes !
Employers who pay their skills development levies are entitled to claim back a sum of money used to train and upskill their staff from their paid skills development levies.
Join Deon Macauley at Paymaster in this free webinar to see how he can assist you in Discretionary Grants for your business with SETA Grant Submissions and more. Click below to register.
Click here to go to the previous Newsletter