How To Register A Small Business For Uif South Africa

Should i register my new small business for tax.

How to register a small business for uif south africa. What is the uif. For every new business established you are required to register with your local sars office to obtain an income tax reference number. The uif will create a reference number and send it to you. How to register a business in south africa. Just as you ve registered your employees for tax with sars yes another acronym you also need to register them for uif in south africa with the department of labour.

Employers who do not have a reference number yet can leave this part open. South africa is in desperate need for citizens to create small businesses to help combat the countries high unemployment rates. If one of your plans is registering a business in south africa especially a small business in the form of a small medium enterprise sme or a startup you will not have to register the entity like a company. To apply for uif benefits during the covid 19 disaster period please visit the department of employment and labour s uif online portal. The form for the registration of workers asks for an employer reference number.

A step by step guide to registering your small business. In a statement on. Register with uif you are required by law to register with the unemployment insurance fund uif and contribute towards the fund if you have employed people for more than 24 hours per month. Starting a small business is by no means an easy task and for the average person knowing what legal obligations and paperwork are needed to own a business can seem daunting and somewhat offputting. Employers must complete the forms for both themselves and their workers.

The monthly contribution for uif is two percent of your worker s gross salary per month. Uif which stands for unemployment insurance fund. The unemployment insurance fund uif gives short term relief to workers when they become unemployed or are unable to work because of maternity adoption leave or illness. Also ignore the part asking for a signature. The south african government has been encouraging its citizens to create their own businesses in an effort to address the country s high.

Unemployment insurance fund uif please note. But now you can add another important one to your list. It harnesses the power of the internet allowing employers of domestics commercial employers smme and tax agents to complete and submit monthly uif declarations and to securely pay uif contributions. The department of trade and industry dti has launched the pilot phase of a new business website which aims to significantly improve the ease of doing business in south africa.