Labour Relations Act, 1995 (Act No. 66 of 1995)NoticesBargaining Council for the Fast Food, Restaurant, Catering and Allied TradesExtension to non-parties of the Main Collective Agreement21C. Provident Fund |
| (1) | Membership of the Momentum "Funds At Work Umbrella Provident Fund" with Registration No's 12/08/32083/1, SARS 18/20/No 36990 is compulsory for all employees other than casual employees who are employed within the Scope and Sector of the Council and who have not reached the age of sixty five (65) years. |
| (2) | For the purpose of providing employees with Provident Fund Benefits, every employer shall in respect of each month deduct 5% from the wages payable to each employee and add to such deduction an equal amount of 5%. Every employer shall ensure that the employee's deductions as well as the employee's contributions as referred to in sub-clause 2 are paid to the Momentum administrator electronically by no later than the 7th day of the month succeeding that month during which the deductions and contributions were made. |
| (3) | Every employer shall submit the participating employee's membership particulars to the administrator in prescribed electronic format and in such detail as required in terms of the Provident Fund Rules and Regulations and this Agreement by no later than the 25th of each month. |
| (4) | Every employer within the scope and sector of the Council must complete an application in the form of "Annexure (1A)" for participation to the "Funds at Work Umbrella Provident Fund" and email the applications to the following email address: [email protected]. |