The Department of Labour has amended the regulations with regard to the TERS Fund. The amendments have clarified the following:
- Eligible companies can include those who have had a partial closure of the business operations
- Employees who are receiving short-time will have their salaries capped at a maximum amount of R17712. The maximum benefit remains 38% of the maximum amount, i.e. R6730-56.
- The minimum benefit will be R3500 if their salary after short-time, falls below this figure. We no longer need to worry about Sector minimum salaries
- The scheme will only pay out if the total of the benefit together with any additional remuneration that the employer pays is less than the remuneration they would normally have received.
- Employers will be able to top up salaries where this can be afforded.