Dear All
Please note that there was an error in the MEIBC’s calculation of the Dispute Levy as follows;
The explanation from the MEIBC is that a rounding of principle was picked up by one of the stakeholders, which could potentially create or raise questions that could have been resolved sooner.
As a way of explanation, the main issue here is that, the current weekly contribution for Dispute Resolution levy is R0.71 and if one adds a CPI of 7.2%, this equates to R0. 76112, and is rounded off to R0.76. However, if one takes R0. 76112 X4.33 (monthly) this equates to R3. 2956, and if rounded off to the nearest 10, it gives R3.30. However the monthly contribution based on the “initial rounding off to” R0.76 is R3,29, per contributing employee ADD equal employer contribution, the total should be R6,58.
I have attached the corrected noted.
We apologise for the inconvenience caused.
[pdf-embedder url="https://capeeng.co.za/wp-content/uploads/2023/03/SEIFSA-INFO-NOTE-MEIBC-MIBFA-LEVIES-AND-CONTRIBUTIONS-AS-AT-1-APRIL-2023.pdf" title="SEIFSA INFO NOTE MEIBC-MIBFA LEVIES AND CONTRIBUTIONS AS AT 1 APRIL 2023"]
