Compensation Fund

Compensation Fund

Legislation, Payroll / eTorQue, Tax

A Government Gazette notice was published on 26 February which deals with the following:

  • Increase of maximum amount of earnings on which the assessment of an employer shall be calculated;
  • Increase in monthly pensions;
  • Manner of calculating compensation; and
  • Increase in monthly pensions.

The prescribed amount in terms of section 83(8) of the Compensation for Occupational Injuries and Diseases Act, 1983 has increased to R332,479 per annum with effect from 1 April 2014. The previous amount was R312,480 (effective from 1 April 2013).