Posts tagged [MIBFA Rate Increase July 2016]


  • MIBFA Provident & Pension Fund Contribution Increase

    MIBFA_Image

    As per MIBFA Circular Dated 01/06/2016 the contribution rate for both funds, Metal Industries Provident Fund & Engineering Industries Pension Fund, will increase as from 1 July 2016.

     

    The contribution rate for both employee & employer will increase to 7.1% from 7.0% of pensionable remuneration.

     

    Remember to change the % for employee & employer contributions on your Sage Pastel Payroll & HR package before running your July 2016 salaries.

     

    To Download the full circular received from MIBFA Click Here

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