BEE Advisory, Skills Development, BEE Consulting
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By Transcend | 4 September 2024
The Department of Employment and Labour (DEL) has formally announced that the current provisions of the Employment Equity (EE) Act will remain in effect for this year’s EE report submissions. This decision has significant implications for both large and small employers classified as designated under the primary EE Act definition.
Who needs to Report?
Under the primary EE Act, designated employers are defined as those with a workforce of 50 or more employees, as well as employers with fewer than 50 employees but who exceed the turnover thresholds specified in Schedule 4. As a result, both large and small employers are required to submit their annual EE reports to ensure ongoing compliance.
Risk of Non-Compliance
The reporting period is now open and will close on 15 January 2025. Designated employers who fail to submit their reports risk incurring financial penalties as outlined in Schedule 1 of the Employment Equity Act. Additionally, non-compliance will negatively impact an employer's ability to earn points under the Management Control pillar of the B-BBEE scorecard, as proof of compliance is mandatory for verification.
To assist you in navigating the EE reporting process, Transcend will be hosting a webinar. Topics to be covered include:
Webinar details:
Tel: 011 442 2433
Email: info@transcend.co.za
Transcend
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