Title: "Demystifying Payday: Understanding KT Smith's January 2024 Payslip"

Certainly! Here are the responses to your questions: **1.1 Explain the concept employee.** An "employee" is an individual who is hired by an employer to perform specific tasks or duties in return for compensation, typically in the form of wages or salary. Employees usually work under a contract of employment, are subject to the employer's control and direction, and are entitled to benefits such as health insurance, retirement plans, and paid leave. **1.2 Write down UIF in full.** UIF stands for Unemployment Insurance Fund. **1.3 Calculate the value of A, the rate of overtime on Saturday.** To find the rate of overtime for Saturday, we use the provided information: - The overtime worked on Saturday is 8 hours. - The total amount for Saturday's overtime is R953.84. So the rate \( A \) is calculated as follows: \[ A = \frac{953.84}{8} \] \[ A = 119.23 \] Therefore, the rate of overtime on Saturday is R119.23/hour. **1.4 Determine the age (in years, months, and days) of Mr. Smith on 09/05/2024.** Mr. Smith's date of birth is 07/08/1968 (8th of July, 1968). To calculate the age on 09/05/2024: - From 07/08/1968 to 07/08/2023 is 55 years. - From 07/08/2023 to 09/05/2024 is 9 months and 2 days. So, on 09/05/2024, Mr. Smith will be: - 55 years - 9 months - 2 days **1.5 Calculate the value of B, gross salary.** To calculate the gross salary: - Basic Salary = R15,712.00 - Overtime on Saturday = R953.84 - Overtime on Sunday = R328.75 \[ \text{Gross Salary (B)} = 15,712.00 + 953.84 + 328.75 \] \[ \text{Gross Salary (B)} = 16,994.59 \] Therefore, the gross salary B is R16,994.59. **1.6 Calculate the total UIF contribution for Mr. Smith.** The UIF contribution is usually 1% of the gross salary, matched by the employer contributing an equal amount. Using the Gross Salary calculated in 1.5: \[ \text{Employee Contribution} = 1\% \times 16,994.59 \] \[ \text{Employee Contribution} = 0.01 \times 16,994.59 \] \[ \text{Employee Contribution} = 169.9459 \approx 169.95 \] \[ \text{Employer Contribution} = 169.95 \] \[ \text{Total UIF Contribution} = 169.95 (Employee) + 169.95 (Employer) \] \[ \text{Total UIF Contribution} = 339.90 \] Therefore, the total UIF contribution for Mr. Smith is R339.90. **1.7 Do you think it is necessary for the employee to contribute towards UIF? Justify your answer.** Yes, it is necessary for the employee to contribute towards UIF. The Unemployment Insurance Fund provides short-term relief to workers when they become unemployed or are unable to work due to maternity, illness, or adoption leave. This contribution ensures that employees have financial support during times of unemployment or temporary inability to work, offering a safety net that helps stabilize their financial situation and promoting social welfare. The mandatory nature of the UIF contributions helps pool resources to provide adequate support to all those who are covered under the system.