01 February 2024 Employment and Labour Minister T.W. Nxesi announced an increase in the National Minimum Wage that took effect on 01 March 2024. The increase brings the National Minimum Wage from R25.42 to R27.58 per hour.The 8,5% increase applies to all workers including farm workers and domestic workers for each ordinary hour work. However, …
The Companies and Intellectual Property Commission (CIPC) implemented a beneficial ownership register from 01 April 2023 on a voluntary basis. The filing of beneficial ownership interest and securities registers became mandatory from 24 May 2023 upon promulgation of the Amended Companies Regulations. In terms of the amended Companies regulations, entities incorporated after their promulgation …
ENFORCEMENT OF BENEFICIAL OWNERSHIP FILINGS AND SECURITIES REGISTERS Read More »
Effective 01 March 2023, the minimum wage of R23.19 per hour will increase by approximately 9.6%, well ahead of the annual inflation rate of 6.9%. This will increase the minimum wage to R25.42 per hour. On Tuesday, 21 February 2023, the Employment and Labour Minister, Thulas Nxesi, announced the hike in the minimum wage. Employers …