The following is the News flash 2023-05 published by the PAGSA on February 20, 2023 regarding the Compensation Fund: Earning threshold & Submission period

COMPENSATION FUND: EARNINGS THRESHOLD AND ROE SUBMISSION PERIOD

The Director-General of Employment and Labour issued Government Gazette Number 48065 on 17 February 2023 to announce that the period during which employers must submit the annual Return of Earnings for Actual earnings for 2022/2023, and Provisional earnings for 2023/2024, is 1 April 2023 to 31 May 2023. This applies to the 2022 assessment year.

As a result of a request submitted earlier to the Fund, a second Gazette with the same number (48065) and the same date of issue (17 February 2023) specified the two earnings thresholds as follow:

1. R 529 264 for 1 March 2022 to 28 February 2023
2. R 563 520 for 1 March 2023 to 28 February 2024.

I assume that the layout of, and the information required, by the Return of Earnings form is the same as last year (with the exception of the dates and earnings threshold as specified above), but a request to confirm this has been sent to the Fund.