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Hi guys
It seems that I am a bit mathematically challenged today…
Maybe some of the other SDF’s could assist?
SDL is disbursed as follow:
Payroll 1% to SARS = R200 000 (As example)
SARS deducts 2% = R 4 000
AMOUNT to distribute to SETA / NSF = R196 000
20% NSF = R 39 200
80% SETA = R156 800
The amount of R156 800 allocated to the SETA now becomes their new “100%”
10.5% SETA ADMIN = R16 464 (0.5% of this goes to QCTO)
20% MANDATORY GRANT = R31 360
49.5% DISCRETIONARY GRANT = R77 616
Here comes the question….
10.5% + 20% + 49.5% = 80%
R16 464 + R31 360 + R77 616 = R125 440
I am shorting R31 360 or 20%
Where does this go?
If you could please clarify or refer me to some reading material I would appreciate it.
Thanks
