Latest News on the Return of Earnings

Employers can start submitting their Return of Earnings (ROE), also known as the 2A Form (W.As.8), as we have entered the submission period. Stay compliant by submitting your 2023 ROE by 30 June 2024, and avoid the 10% penalty for late submissions.

The ROE is a declaration, by employers, to the Compensation Fund of their employees’ earnings for the past year. The 2023 assessment period ran from 1 March 2023 to 29 February 2024. In this declaration, employers must also provide their employees’ projected earnings for the following year.

The Acting Director-General of Employment and Labour published Notice 2314 of 2024, announcing the filing season for the 2023 ROE as 1 April 2024 to 30 June 2024.

Please note that our calculation method for the earnings threshold has changed.

For many years we’ve received queries on whether the annual earnings threshold should be applied on a monthly or an annual basis. We have thoroughly investigated this and compared our calculations to those of our competitors. We’ve confirmed with the Payroll Authors Group of South Africa (PAGSA) that the annual method is an acceptable approach to take. To date, neither PAGSA nor SimplePay has received official guidance from the Compensation Fund. Previously, we divided the annual threshold into a monthly one, and compared an employee’s monthly earnings to the monthly threshold amount. Now, we simply apply the annual threshold to their annual income.

At SimplePay, we always aim to make things as easy as possible and, as a result, you can download a report from our system that will help you complete your ROE, by simply going to Filing > OID (Workmen’s Comp) Return.

More information about the ROE and the Compensation Fund can be found on our help site here.

Please feel free to email us at support@simplepay.co.za if you need any assistance.

Take care,

Team SimplePay