Labour Relations Act, 1995 (Act No. 66 of 1995)NoticesNational Textile Bargaining CouncilCollective AgreementPart 2AnnexuresAnnexure D: Blanket SectionE. Employee Benefits27. Retirement Fund |
| 27.1 | As per the provisions of clause 27 of Part 1 of this Agreement. |
| 27.2 | Contributions by the employee and employer to the Textile Industry Provident Fund shall be as follows: |
| 27.2.1 | Employees who are members of the Textile Industry Provident Fund, shall contribute 6.00% of the employee's basic wage, with effect from 01 January 2021. Employers will contribute an equivalent percentage. |
Employee: 01January 2021 : 6.00% of employee's basic wage
Employer: 01January 2021 : 6.00% of employee's basic wage
| 27.2.2 | Ex-fixed term contract employees employed prior to 31 December 2014, and new employees employed on/after 01 August 2015, and who become members of the Textile Industry Provident Fund, shall contribute 6.00% of the employee's basic wage with effect from 01 January 2021, employers will contribute an equivalent percentage. |
Employee: 01January 2021 : 6.00% of employee's basic wage
Employer: 01January 2021 : 6.00% of employee's basic wage
| 27.3 | A temporary employee in the employ of the employer shall not be entitled to retirement fund membership for any period of employment during the period of operation of Part 1 of this Agreement. |
[Part 2 Annexure D (E)(27) substituted by Notice No. R. 1398, GG44029, dated 24 December 2020]