Labour Relations Act, 1995 (Act No. 66 of 1995)NoticesBargaining Council for the Motor Ferry IndustryExtension to non-parties of the Main Collective Agreement19. Provident Fund |
| 19.1 | All employees in the bargaining units must be a member of a retirement fund. The employer of such employees shall contribute to the retirement or provident fund an amount equivalent to at least 10% of the employee's basic pay in line with the approved Rules by FSCA. An employee shall contribute at least 8.5% of the employee's basic pay to the retirement or provident fund in line with the approved Rules by FSCA. |
| 19.2 | An employer shall be entitled to deduct from an employee who is a member of any of the aforementioned retirement funds the employee's contribution of 8.5% of the employee's basic pay. The employee's contribution, once deducted, together with the employer's contribution shall be paid over to the relevant fund by the employer by no later than the fifth day of each month or in terms of the Rules of the relevant fund as approved by FSCA. |