Employees’ Trust Fund
This is regularized by Employees’ Trust Fund Act No.46 of 1980.
1.1 Who should contribute to the Fund?
According to the said Act and the Regulations made under the Act from time to time an Employer is required to contribute to the Employees’ Trust Fund (ETF). It is to be noted that an Employee need not contribute to ETF.
1.2 Quantum of contributions
- Employer - 3 % of the employee’s total earnings for each month
- Employee - Nil
1.3 Payments of benefits
- Amount available in the fund account of the employee will be paid at the cessation of his/her employment
- However certain exceptions to this are laid down in the Act.