After taking into consideration the tariff increase introduced for 2014 by the major medical funders in South Africa and the limited growth shown by the companies new clients, Precision Medical Solutions is offering the following payroll increases for May 2014.

The increase will be introduced across the board and comprises a 5% increase in gross earnings broken down as follows:

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PAYROLL CATEGORY

PAYROLL 2013

PAYROLL 2014

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Basic salary

Increase of 3.86%

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Employer pension contribution

1.146% of basic salary

Increase to 2.262% of basic salary

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Payment of pension fund administration fee

0.739% of basic salary

0.739% of basic salary

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Employees will be required to meet the pension contribution made by the employer, being 2.262% of their basic salary.