The deadline for submission of actual earnings and the payment of premiums is 31 January 2020. You are required to declare your actual earnings cost for the 2019 cover period 1 January to 31 December. In addition, if you have not already submitted your estimated earnings for 2020, you need to submit by 31 January 2020.
Declaring your company’s earnings and paying premium by 31 January 2020 ensures that you receive your Letter of Good Standing (LOGS) timeously.
LOGS will be issued on a bi-annual basis. Please note that if there is a variance of more than 20% between the 2019 actual and 2019 estimated earnings, we would require a copy of your audited payroll report or EMP 501/201 for 2019 to support the variance. You can email a copy to declarations@randmutual.co.za. Earnings would then be reviewed and approved as soon as they are received. This might delay the release of your invoice and LOGS for 2020.