Employers face more costs in workers compensation plan

Finance Bill

Members of the National Assembly during a sitting. 

Photo credit: File | Nation Media Group

Employers face higher costs as a new draft Bill seeks to have them contribute one percent of each worker’s gross monthly earnings to fund a kitty that will compensate employees who suffer an injury while on duty.

Workers will not contribute to the kitty. If passed into law, the proposal will add to employers’ payroll costs, adding to the nascent Housing Levy in which they and their workers contribute 1.5 percent of monthly gross pay each.

The draft Workers’ Injury Compensation Bill 2024 is in the public participation stages, seeking their views before April 30 and will see the formation of a Workers Compensation Fund.

Read more HERE

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.