BEE Levels are recognition levels, that indicate to what degree you comply with BEE legislation. Now, there are 8 BEE Levels for compliance – with Level 1 being the best compliance. If you score lower than what qualifies for a Level 8, you are non-compliant. Across an entire BEE Scorecard, you can score 100+ points […]
Many people assume you’ll automatically get a Level 1 BEE Compliance with your affidavit, but that’s not true. For an EME, you’ll get an affidavit for a Level 1, Level 2, or Level 4 based on the actual percentage of direct black ownership in your company. So that clears up the perception that only 100% […]
First, it is as valid as a BEE Certificate and it is essentially an affidavit stamped by a commissioner of oath to confirm the direct Black Ownership within a company Essentially, companies that make use of a BEE Affidavit in place of a BEE Certificate are startup companies, companies with a turnover of 0-10million rand, […]
Monthly/Quarterly, depending on the SETA you are registered with. Typically, your first application will take a bit longer and the funds available with the SETA also influences their payment schedule.
In short: It doesn’t. Anyone that pays their Skills Development Levy to SARS monthly, can benefit from the claims and whether you are BEE compliant or the level of BEE compliance has no influence. However, if you do BEE and you can claim that benefit and use it towards your BEE spend for Skills Development, […]
#BEEready: Retrenchments and BEE – when you retrench employees, how is your BEE verification audit affected?
As soon as the Verification Audit process begins, the process works on live data and information on the day of verification. If you retrench, be sure to do so before your verification audit starts. If not, the employees will be included at the time of verification regardless if you are planning for the retrenchment or […]
Black-owned means direct ownership, while Black controlled means ‘managed by black people’ for example, private equity investors and capital investment firms.
In BEE, discounted is NOT ‘disqualified’ – it simply means that you are “dropping a level”, or penalised with a level for not reaching the subminimum requirement on a priority element. Example: If you score 73/100 points overall when you are verified, and you did NOT comply with the subminimum of 40% compliance for the […]
Dropping a level in BEE is the term used to describe the penalty for NOT reaching the subminimum requirements on priority elements of the BEE Scorecard. There are 8 levels of BEE compliance. If you fail to reach the subminimum (40%) for each priority element, your overall level will be determined based on your overall […]
When it comes to BEE, Employment Equity and even Skills Development it is often difficult to decide if you should 1) appoint a person in-house to do these tasks; 2) upskill someone in-house to do these tasks; 3) hire an external party to do these tasks for you. Each of these approaches has up- and […]