FASSET ANNUAL REPORT

2021

2020 Restated

R ‘000

R ‘000

16. Employee related costs Basic salaries

25 478

23 737

Performance bonus-current year provision Medical aid - company contributions

393 917

1 004

694

UIF

76 45

65 53

Workmens compensation

SDL

213 453 594

239 201 515

Leave pay accrual Group life benefits

Post-employment benefits: Defined Contribution Plans ***

3 018

1 719

Leave paid -out

401

342

31 588

28 569

***FASSET provide the retirement benefits for all its permanent employees through a defined contribution scheme to the NMG Umbrella Smart fund that is subject to the Pension Funds Act, 1956 (Act No. 24 of 1956) as amended. In terms of the Pension Funds Act, 1956 (Act No. 24 of 1956) .

17. Consulting and professional fees Consulting fees

849

514

Service provider fees

11 425 12 274

7 042 7 556

18. Employer grant and project expenses Mandatory grants

57 221 164 658 186 692 408 571

82 219 144 054 327 359 553 632

Discretionary grants Project expenditure

Amount of R 8 325 171 ( 2020 R 5 558 000) relating to the employee cost has been included under project expenditure. In the 2020 financial year the management has decided to account for employee cost that relates to running the project department under project expenditure going forward.

FASSET Annual Integrated Report 2020/21

112