ACTIVIT 3 R4 558 is a total anmual UIF contribution of one of the employee at Keitumetse Company who is registered for UIF purposes. One UIF conditions: Employer and employee each contributes \( 1 \% \) of monthly salary Source:FS GRADE 11 TEST SEPT 2019 Use the information abore to answer the following questions. 3.1 What does the abbreviation UIF stand for? (2) 3.2 Determine the monthly salary of an employee working at Keitumetso Company whose total annual UIF contribution is R4 558 . (5) 3.3 Give one condition to beacfit (i.e. circumstances that enable a person financial relief) from contributing to the UIF. (2) 3.4 Pizza shop purchased 11 pizan bags from Rammone. If One bag cost R45,95 price including VAT at \( 15 \% \). 3.4.1 Caleulate the price excluding VAT for 11 bugs purchased. (4)

### **ACTIVIT 3** **R4 558** is the total annual UIF (Unemployment Insurance Fund) contribution of one employee at Keitumetse Company who is registered for UIF purposes. --- #### **3.1 What does the abbreviation UIF stand for?** **(2 marks)** **Answer:** **UIF** stands for **Unemployment Insurance Fund**. --- #### **3.2 Determine the monthly salary of an employee working at Keitumetse Company whose total annual UIF contribution is R4 558.** **(5 marks)** **Solution:** - **UIF Contribution Rate:** - **Employee:** 1% of monthly salary - **Employer:** 1% of monthly salary - **Total Monthly UIF Contribution:** 2% of monthly salary - **Total Annual UIF Contribution:** R4 558 - **Calculation:** Let **S** be the monthly salary. \[ \text{Total Annual UIF} = 12 \times 2\% \times S = 0.24 \times S = R4\,558 \] \[ S = \frac{R4\,558}{0.24} = R18\,991.67 \] **Answer:** The monthly salary of the employee is **R18 992**. --- #### **3.3 Give one condition to benefit (i.e., circumstances that enable a person financial relief) from contributing to the UIF.** **(2 marks)** **Answer:** One condition to benefit from UIF is **being involuntarily unemployed after having contributed to UIF for a minimum required period** (e.g., at least six months of employment). --- #### **3.4 Pizza shop purchased 11 pizza bags from Rammone. If one bag costs R45.95 including VAT at 15%.** ##### **3.4.1 Calculate the price excluding VAT for 11 bags purchased.** **(4 marks)** **Solution:** - **Price per bag including VAT:** R45.95 - **VAT Rate:** 15% - **Price excluding VAT per bag:** \[ \text{Excluding VAT} = \frac{R45.95}{1.15} \approx R39.96 \text{ per bag} \] - **Total for 11 bags:** \[ R39.96 \times 11 = R439.56 \] **Answer:** The total price excluding VAT for 11 bags is **R439.56**. ---