BANKSETA AR 31 AUGUST

ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2022

15.

ADMINISTRATION EXPENSES (CONTINUED)

15.1 Cost of employment

2021/22

2020/21

R’000

R’000

48 632 38 324 7 958

46 477 *

Salaries and wages

Basic salaries

33 967 9 572

Performance awards

Allowances

41

442

Communication allowances

620

496 *

Employee settlement

38

-

Leave expense

1 651

2 000

7 420 1 551 4 666

6 730 1 469 4 303

Social contributions

Medical aid contributions

Pension contributions: defined contribution plans

Risk cover contributions Skills Development Levies Workmen’s Compensation

478 494

414 360

99

79

UIF

132

105

56 052

53 207 *

Allocation of cost of employment Administration expenses

56 052

53 207 *

15

65

59

Average number of employees

Refer to the report by the Accounting Authority for disclosure of the Accounting Authority members. Note 24 details the emoluments of members of the Accounting Authority, independent board committee members and the Executive management group. * The BANKSETA changed from providing communication devices to providing communication costs. The categorisation of this expense has been changed accordingly. The prior year disclosure has been corrected in line with current disclosure.

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PART E: FINANCIAL INFORMATION | BANKSETA ANNUAL REPORT 2021/22