By henkcloete, 6 February, 2018

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


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