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Amended Unemployment Insurance (UIF) Act

by Lloyd Ramutloa last modified 2010-09-01 01:29

4. Establishment of Unemployment Insurance Fund

Unemployment Insurance Act (No. 63 of 2001 )
as amended by the
Amendment - Unemployment Insurance Act

Chapter 2 : Unemployment Insurance Fund


4. Establishment of Unemployment Insurance Fund

(1)           The Unemployment Insurance Fund is hereby established.

(2)           The Fund consists of—

(a) the contributions made by employers and employees and collected by the Commissioner of the South African Revenue Service in terms of the Unemployment Insurance Contributions Act;

(b) the contributions made by employers and employees and collected by the Commissioner in terms of the Unemployment Insurance Contributions Act;

(c)  money appropriated by Parliament;

(d) any penalties and fines imposed in terms of this Act other than by a court of law;

(e) any interest or return on investment made by the Fund;

(f)   any money paid erroneously to the Fund which, in the opinion of the Director-General, cannot be refunded;

(g) any bequest or donation received by the Fund;

(h) any movable or immovable property purchased or otherwise acquired by the Fund; and

(i)   any other money to which the Fund may become entitled.


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