WATCH | Compensation fund to be set up for workers during SA's Covid-19 lockdown
Table of Contents
- We are going to support people whose livelihoods will be affected adversely...
- Directly during this period and avoid retrenchment any employee who falls ill...
- Put measures in place within the next few days many large companies that are...
- Insurance fund system to extend support to those workers in SMEs and other...
- Text subsidy of up to 500 rand per month for the next four months for...
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we are going to support people whose
livelihoods will be affected adversely
we're in consultation on a proposal for
a special dispensation for companies
that are in distress because of covert
19 through this proposal employees will
receive wage payment through temporary
employee relief scheme quarters which
will enable companies to pay employees
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directly during this period and avoid
retrenchment any employee who falls ill
through exposure at their workplace will
be paid through the compensation fund
commercial banks have been exempted from
provisions of the Competition Act to
enable them to develop common approaches
to debt relief and other necessary
measures we have met with all major
banks and expect that most banks will
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put measures in place within the next
few days many large companies that are
currently closed have accepted their
responsibility to pay workers that are
affected we call on large businesses in
particular to take care of their workers
during this testing period in the event
that it becomes necessary we will
utilize reserves within the unemployment
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insurance fund system to extend support
to those workers in SMEs and other
vulnerable firms who are faced with loss
of income and whose companies are unable
to provide support details of these will
be made available within the next few
days thirdly we are assisting businesses
that may be in distress
using the text system we will provide a
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text subsidy of up to 500 rand
per month for the next four months for
those private-sector employees earning
between 6500 under the employee tax
incentive
this will help over four million workers
in our country