Tagged: Skills Development

Are YOU being paid out your Mandatory and Discretionary Grants?

There are 2 types of Grants that are awarded to companies to assist with Training and Upskilling. These are the Mandatory Grants and Discretionary Grants. Let’s look at the difference between these Grants and the benefits of each: Mandatory Grants This Grant is payable to all levy paying companies upon...

The deadline for the annual submission of the WSP is 30 April 2021!

The law states that a company with a payroll that exceeds R500 000 per annum must be registered to pay the Skills Development Levy (SDL). All companies with 50 or more employees need to establish a Skills Development Committee and consult with the Committee prior to the submission of the skills...

Are your skills development goals aligned to your employment equity targets?

Recently the Parliament’s Portfolio Committee on Employment and Labour has called for public comment on the Employment Equity Amendment Bill. The bill has been described by President Cyril Ramaphosa as a ‘game changer’ for Black Economic Empowerment in South Africa. The Minister of Labour, after consulting with various sectors including...

skills development

Skills Development vs SED – EconoBEE Newsletter – 21 April 2016

Skills Development vs SED The Amended Codes of Good Practice list five separate elements in terms of which an entity must score points in order to become compliant. Two of the five elements are Skills Development and Socio Economic Development (SED). These elements are separate and distinct, and therefore it...

socio economic development

The Fine Line Between Skills Development and Socio Economic Development

The Amended Codes of Good Practice list five separate elements in terms of which an entity must score points in order to become compliant. Two of the five elements are Skills Development and Socio Economic Development (SED). These elements are separate and distinct, and therefore it is essential that an...

financial sector codes

Amended Codes Sub-Minimum requirements

  Introduction: The Amended Codes have sub-minimum requirements for three elements: ownership, skills development and enterprise and supplier. If an entity does not meet the minimum requirements on all three elements its calculated BEE level will drop by a further 1 level. Sub-minimum element – Ownership: The sub-minimum is 40%...