Important Payroll deadlines in May
The month of May involves two important payroll related deadlines.
Return of Earnings (ROE or COIDA) submissions and EMP501 submissions are both due by the 31st of May 2022.
Our blog explains who needs to submit them and why they need to be done.
ROE
The Compensation for Occupational Injuries and Diseases Act (COIDA) requires all employers to submit a declaration, known as a Return of Earnings (ROE). The return is based on the total amount of earnings paid by the employer to its employees. The return is submitted on the department of labours website. All employers who employ one or more workers in connection with their business are required to register and submit a return.
EMP501
This is essentially a bi-annual reconciliation process where the monthly PAYE, UIF and SDL returns submitted are reconciled to the amounts deducted per employee payslips. Employee IRP5s are generated as part of this process, which SARS then uses to kick off the 2022 tax season. All employers who are registered for with SARS for PAYE, UIF and SDL are required to submit a return.
Contact us at hello@118accounting.co.za if you require any assistance with the above submissions