OID Earnings Threshold Raised to Ensure Employee Protection: Minister’s Directive
In a recent development that affects employers nationwide, the Minister of Employment and Labour has announced a significant adjustment to the OID earnings threshold. According to Government Gazette 50386, published on 27 March 2024, Notice 2390 of 2024 reveals the updated threshold.
Effective 1 March 2024, the OID earnings threshold has been raised from R568,959 per annum (the limit for 2023/2024) to R597,328 per annum (the limit for 2024/2025). This revision represents a noteworthy increase in the maximum amount of earnings per annum per employee on which an assessment of an employer is calculated. This adjustment is in accordance with section 83(8) of the Compensation of Occupational Injuries and Diseases Act (COIDA).
Employers across the country are advised to stay informed about these changes and ensure compliance to safeguard the well-being and protection of their employees.
For further details, refer to Government Gazette 50386 (Notice 2390 of 2024)
Stay tuned for additional updates as we continue to monitor developments in employment and labour regulations.
