Thandeka Vocational Education Trust (Pty) Ltd has been intricately involved in the delivery and implementation of the TERS initiative since 2012, and to this end, have garnered up several years of experience in this regard.
What is TERS?
The purpose of the TERS is to assist businesses in distress to recover and to save jobs of workers who would otherwise have been retrenched. The scheme also provides the opportunity for businesses in distress to grow towards profitability.
Workers remain employed but forego their normal wage Instead, they receive a training allowance/lesser wage and the employer carries the cost of a basic package of social benefits.
The TERS scheme is combined with a training plan funded by the SETA with the purpose of re-training and upskilling staff.
Who Is Eligible to Participate?
Employers in distress or facing distress.
This would include Employers that have had to enforce lockdown as regulated, and who might require financial assistance from the UIF upon return to business as well as a reboot relative to the reskilling and upskilling of staff to deal with anticipated changes in product range amongst other variances (this would kick in after the 3 months COVID TERS has been paid).
Employers contemplating the retrenchment of workers.
Employers who have the potential of becoming sustainable through short-term relief (12 months).
Employers who are compliant with Statutory obligations.
Benefits of TERS
Retain employment and avoid retrenchments.
Enhance skills of workers through training during the relief period.
Payment of a training allowance/wages (financed by UIF) – 75% of basic wage up to R17 712.00 per month. The employer is encouraged to top up the remaining 25%.
Employer carries cost of a basic package of social benefits – UIF, provident/pension fund and death and disability cover. The employer can agree to cover other benefits such as Medical Aid.
All training costs incurred are paid for by the SETA.
Our offering in respect of TERS
Assistance with the completion of the required application process and documentation to the CCMA.
Assistance with the completion of the “Annexure A and B”, list of employees earmarked for participation in the Scheme.
Assistance with the compilation and submission of a Training Plan to the SETA.
Administration, Implementation and management of the Training Programme.
For further information and for a detailed description of the Terms and Conditions of the TERS, please do not hesitate to contact our team.