This business/management problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
Here are the solutions to the questions: 1.1.1 Explain the term employer An employer is an individual or organization that hires and pays people (employees) to perform work or services. 1.1.2 State ONE benefit of contributing towards the UIF One benefit of contributing towards the UIF (Unemployment Insurance Fund) is that it provides temporary financial relief to workers who become unemployed. 1.1.3 Calculate: a) The value of B Step 1: Identify the components of the Total Gross Salary. The Total Gross Salary is the sum of the amounts for Normal hours worked, Sunday hours, and Overtime hours. From the table: • Sunday hours amount: R 1 184,40 • Overtime hours amount: R 350,88 • Total Gross Salary: R 6 272,16 Step 2: Set up the equation for Total Gross Salary. Total Gross Salary = Amount for Normal hours (B) + Amount for Sunday hours + Amount for Overtime hours 6272,16 = B + 1184,40 + 350,88 Step 3: Solve for B. B = 6272,16 - 1184,40 - 350,88 B = 6272,16 - 1535,28 B = 4736,88 The value of B is R 4736,88. b) The total UIF amount that must be paid on behalf of M Ncubuka to the Department of Labour Step 1: Determine the employee's gross salary. From the table, the Total Gross Salary is R 6 272,16. Step 2: Calculate the employee's UIF contribution. The note states that the employee contributes 1% of the gross salary for UIF. Employee's UIF contribution = 1\% × Gross Salary = 0,01 × 6272,16 = 62,7216 ≈ R 62,72 Step 3: Calculate the employer's UIF contribution. The note states that the employer also contributes 1% of the employee's gross salary for UIF. Employer's UIF contribution = 1\% × Gross Salary = 0,01 × 6272,16 = 62,7216 ≈ R 62,72 Step 4: Calculate the total UIF amount paid on behalf of M Ncubuka. The total UIF amount paid to the Department of Labour is the sum of the employee's and employer's contributions. Total UIF amount = Employee's contribution + Employer's contribution = 62,7216 + 62,7216 = 125,4432 ≈ R 125,44 The total UIF amount that must be paid on behalf of M Ncubuka to the Department of Labour is R 125,44.