Section 16: Surcharge on late contributions
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
16. Surcharge on late contributions
(1) Without prejudice to any legal proceedings which may be instituted
under section 15, where an employer fails, within the prescribed time, to pay
to the Minister the whole or part of any contribution payable under section 5,
he shall pay a surcharge at the rate of 5 per cent or such other rate as may
be prescribed for every month or part of the month during which any contribution remains unpaid, unless the amount of unpaid contributions does not
exceed the amount specified in the First Schedule.
(2) The Minister may exempt any person from payment of the surcharge
in such circumstances as may be prescribed.
[S. 16 amended by s. 70 (4) (g) of Act 33 of 2008 w.e.f. 2 February 2009.]
N23 – 9 [Issue 6]
National Savings Fund Act