The Department of Employment and Labour has published Regulations and a guide to enable businesses to apply for funding to assist employees where employers are unable to pay them during the 21 day lockdown – and up to a period of 3 months.
The key criteria are:
- Business has closed due to Covid-19
- Suffering financial distress
- Covers salary costs of an employee up to a maximum of R 17 712,00 per month per employee
- Capped to income replacement rate as per Unemployed Insurance Fund – 38% to 60%
- Where amount work out less than minimum wage – minimum wage for industry will be paid to employee
- Business must be registered with UIF
- No salary payment is made by business to an employee during period
Employers wanting to register for TERS must mail [email protected]. A response will be received detailing process to be followed.