Labour Relations Act, 1995 (Act No. 66 of 1995)NoticesNational Textile Bargaining Council: Extension to Non-parties of the Main Collective AgreementPart 2AnnexuresAnnexure H: Non Woven Textiles SubsectorE. Employee Benefits27. Retirement Fund |
| 27.1 | Ail employees and all employers shall become members of the Textile Industry Provident Fund (hereinafter referred to as the "Fund"), originally established in terms of Government Notice No. R. 1837 of 4 November 1994. |
| 27.2 | Every employee must contribute at least 6,5% of the employee's basic wage and every employer must contribute 10% based on the industry basic minimum rate of pay. All current practices are to remain in full force and effect so long as they are no less favourable than this clause. |
| 27.3 | An employer and his/her employees may be exempted from the joining the Fund if— |
| (a) | they belong to a different registered pension or provident fund; and |
| (b) | the provisions and benefits of that fund are on the whole not less favourable then the provision and benefits of the Fund. |