to amend the Agreement published under Government Notice No. R. 1282 of 29 October 2004 as amended, re-enacted, renewed and extended under Government Notices Nos. R. 241 of 24 March 2005, R. 817 of 11 August 2006, R.1220 of 8 December 2006, R. 1127 of 30 November 2007, R.
2009, R. 1240 of 31 December 2010, R. 404 of 13 May 2011 and R. 430 of 20 May 2011.
1.1.2.5 "area 5" which means the Province of the Free State and the Magisterial District of Kimberley.
Clauses 1.1.1 and 2 of this Agreement shall not apply to non -parties.
Parties with effect from such date as may be fixed by the Minister of b Non-parties with effect from 1 August 2011.
The Agreement shall remain in force until31 December 2011.
The Pension Funds Act (hereinafter referred to as "PFA") was amended from 1 January 2008 to include all Bargaining Council Funds previously registered under the Labour Relations Act, 1995. The Provident Fund was therefore registered under the PFA from 1 January 2009 and the registered certificate was issued by the Financial Services Board on 20 March 2009 with registration number 1218/37824.
The object of the Fund is to provide retirement benefits to members at the date of retirement and death benefits to beneficiaries or nominees of deceased members as defined in the PFA. In terms of the Rules of the Fund, full Fund Credits are payable on leaving service, for whatever reason such as resignation, retrenchment, death, disability or retirement.
The Provident Fund is governed by its Rules, the PFA, the Income Tax Act and all other relevant Acts applicable to Pension and Provident Funds as defined. The Fund is currently administrated by Verso Financial Services (Pty) Ltd, Registration Number 2000/003590/07 (FIAS License number 14985) and approved as an administrator in terms of Section 138(1) of the PFA.
The employer shall each month deduct from the remuneration of each employee as defined in the Rules an amount equal to 4% of the specified monthly remuneration of such employee in terms of Rule 4.1 (1) and 4.1 (2).
The employer shall also contribute 4% of the employee's prescribed monthly remuneration in terms of Rule 4.2(1). These total contributions, i.e. employee and employer shall be forwarded each month in terms of Rule 4.4 to the Secretary of the Council, P.O. Box 1963, Roodepoort, 1725, not later than the seventh (7) day of the month immediately following the month in respect of which it is payable, together with a statement in such a format as prescribed in terms of Section 33 of the PFA.
No deductions shall be made or contributions paid in respect of absence on unpaid leave and absences owing to illness or injury on duty, where no payment is due to the employee by the employer in terms of any agreement or under any law.
Less than R10 000-20,33%.
All contributions received by the Council in terms of this clause shall be paid directly to the Fund.
Membership of the Provident Fund shall be compulsory for all employees, excluding casual employees, who are employed in the Hairdressing and Cosmetology Industry (Semi-National) and who are under the age of 55 as at date of commencement of such employment in terms of the Rules of the Fund and the Collective Agreement, as amended from time to time.
The members of the Council and its employees shall not be liable for any debts or liabilities of the Provident Fund and they are hereby indemnified by the Provident Fund against losses or expenses incurred by them in or about the bona fide discharge of their duties. The Fund currently has Fidelity Cover in place to cover the Trustees and officials dealing with the Fund.
4.1 Substitute the existing clause 22.
HAIRDRESSING AND COSMI!TOLOGY SERVICES BARGAINING COUNCIL (a.
COH1RIBU110N SCHEDULES (a.u.
CATEGORY UNION/ AGENCY BARGAINING COUNC IL SICK PAY FUND Prov.
EOHCBS~ R291.00 EOHCB I Agency Fee R75.
Basic Hlllbllhmllllt "" R75.00 11 LM1 Module1 Rllll.OO R 12.00 R24.00 R9.37 R 18.73 R74.
11 LS6 Core Un~Standan:lt LIMII 3 R68.00 R 15.00 R33.00 R 10.64 R21.27 R65.