Leave it to us, we will submit your claim for you!
UIF CALCULATION EXPLAINED
What is the UIF limit for 2021?
If you have been making UIF payments for four years or more, you can claim up to
238 days. If you have been contributing for less than four years, you can only claim
one day out of every six days that you worked while you were contributing to the
fund.
How much UIF can I claim?
The UIF rates are determined by a scale of benefits that range between 30-60% of
your salary for the first 238 credit days and another flat 20% from 239 days to 365
credit days. Low-income earners receive a higher UIF percentage.
How do you calculate the UIF?
The first step of knowing how much you can claim is by working out your daily rate
of remuneration. If you are earning monthly, multiply your monthly salary by twelve
and divide by 365.
Example, if you earn R10,000 a month, then your daily remuneration will be
10000 (salary) * 12 (months per year) / 365 (days a year) = R 328.77 per day As
an employee, you are entitled to benefits which amount to one day’s benefit for
every six days of employment.
In the above example, we found out that with a salary of R10,000, you have a daily remuneration of R328.77. Now let us assume that you have been making the
payment for 200 days when you were working.
To work out this claim, you divide the number of days you have been employed by 6.
Example:
200 days/6 = 33
Take the 33 and multiply it by your daily remuneration, which is 328.77. You will get R10849.41 as your claim.
The UIF payout system makes payments in the percentage of the salary you
earned while contributing to it. The highest amount that can be paid is 58% of what you earned per day.
Workers who earned less than R12,478 will receive around 36-56% of their
average salary for the four years they had been making the payments.
Example, if you were earning an average of R12,477 in a month, according to the UIF calculation, you can expect to receive R 145.05 a day, which will amount to approximately R4412.02 monthly for about nine months. This is about 36% of what you were earning.
You must also make a claim within twelve months after your last day of employment.
Those who had earned more than R12,478 per month will get a fixed benefit of
around R 4250- 4550 per month. The higher the amount, the lower the percentage.
For example, if 20,000 was your paycheck in a month, then according to the UIF
calculator 2021, your compensation will be around 4412.33 a month. This amount
falls under the range given.
(Source Newshub360)