Payroll Policy

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Purpose

This policy governs the accurate and timely processing of payroll for all employees of {{company_name}} in accordance with the Basic Conditions of Employment Act, the Income Tax Act, and other applicable legislation.

Payroll Cycle

• Monthly salaries are paid on the 25th of each month (or the prior working day where the 25th falls on a weekend or public holiday)
• Cut-off for variable inputs (overtime, allowances, deductions) is the 15th of the month
• Payslips are distributed electronically by the 26th

Statutory Deductions

1. PAYE income tax in accordance with SARS tax tables
2. UIF contributions (1% employee, 1% employer)
3. SDL contribution where applicable
4. Court-ordered garnishees and maintenance

Voluntary Deductions

• Pension or provident fund contributions
• Medical aid contributions
• Approved loan repayments
• Trade union dues

Disputes & Corrections

Employees must raise any payroll query within five (5) working days of receiving the payslip. Verified errors will be corrected in the next payroll run or by an out-of-cycle payment for material amounts.

Acknowledgement & Signatures

By signing below, both parties confirm they have read, understood, and agreed to the terms of this document.

Scope

Applies to all employees, contractors, and authorized payees of {{company_name}} for the pay period stated below. Covers gross pay calculation, statutory deductions, voluntary deductions, and net disbursement.

Pay Period Details

Earnings

Net Pay & Disbursement

Payroll Controls

Data Protection & Records

Payroll data is processed for the legitimate interest of administering employment and meeting statutory obligations. Records are retained for the period required by law and access is restricted to authorized payroll and finance personnel.

Document Control