The Unemployment Insurance Fund (UIF) in the past month disbursed R11 billion in benefits to more than two million employees who faced the implications of the global pandemic lockdown. These funds were disbursed through the COVID-19 TERS (Temporary Employer/Employee Relief Scheme).
1614,567 organizations in total asked for claims on behalf of their employees over the span of last month.
The regulations for claims for employee relief funds and the introduction of such funds were featured on hrtech news in response to the increasing layoffs and furloughs.
The National Economic Development and Labor Council (NEDLAC) representing the workers through community, employers, and unions have borne out this agreement and this method of paying out.
The Department of Employment and Labor gave out a statement saying that several organizations and individuals have appreciated the work of the Unemployment Insurance Funds during such unprecedented times of financial and economic crisis.
The Metair Group of companies in their testimonial letter expressed appreciation for the efforts of the department in payment of the relief funds.
The Metair subsidiaries were seen paying around 7,000 employees and workers, the benefits of TRES for the month of April.
Companies such as Smiths Plastics, Smiths Manufacturing, First National Batteries, HESTO Harnesses, UNITRADE, DENSO Sales South Africa, Lumotech, ATE, and Supreme Springs comprise the Metair Group.
A number of employees have not yet received their relief funds because of the failure of bank verification of their accounts. The benefits would be paid over to the recipients when correct details will be furnished.
To know more about such hrtech news and employee benefit plans, follow the hrtech cube. Hrtech cube delivers regular content in various forms relating to the latest trends in the hrtech industry.
ABOUT THE AUTHOR
Chandrima is a Content management executive with a flair for creating high quality content irrespective of genre. She believes in crafting stories irrespective of genre and bringing them to a creative form. Prior to working for MartechCube she was a Business Analyst with Capgemini.