We offer Statutory Compliance Services including:
- Business or Shop Licenses
- PRAZ Registration
- NEC Registration and returns
- NSSA Registration and returns
- Standards Development Fund Registration and Returns
- ZIMDEF Registration and Returns
STATUTORY COMPLIANCE SERVICES
NSSA (National Social Security Authority) is the statutory organization charged by law to oversee and manage social security in Zimbabwe in terms of the National Social Security Act (Chapter 17:04). All employers are required by the law to register with National Social Security Authority. Whether you are in the formal or informal sector, you are liable to register with NSSA. NSSA operates 2 schemes to which emloyers contribute. The 1st is the Workers Compensation & Insurance Fund (WCIF) which is funded entirely by employers for the purpose of providing benefits to employees and/or their beneficiaries in the event of a workplace injury or death. The 2nd one is the National Pension Scheme which is funded equally by both employers and employees. The fund provides benefits to employees and/or their beneficiaries in the event of retirement, invalidity or death.
Legal name. Trade name. Company contact number, physical and postal address. Main business activity. Commencement Date of Business. Type of Company. Banker’s details (Name of the bank, branch account, account number) Contributions details. Copy of certificate of incorporation. EMPLOYEE DETAILS Employee Occupation details Employee contact details. Spouse(s) Details. Other dependants’ details. Details of Owner, Managing Director or Responsible Person.
A business or shop licence is given by a licensing authority as certification that a place of business meets the minimum requirements for safety, healthy and sanitary standards. This is mandatory for all businesses in terms of the Shop Licences Act [Chapter 14:17] / Urban Councils Act [Chapter 29:15].
NEC or National Employment Council is a council created to represent the interests of employers / employer organisations and employees / employee organisations. There are several NECs for different industries e.g. NEC for Commercial Sector, NEC for Mining Sector, NEC for Catering Industry, etc. Registration with the relevant NEC for your industry is mandatory together with the submission of monthly returns and payment. Both employer and employee contribute 0.50% of the salary.
The Standards Development Fund (SDF) is a statutory organization charged with developing and promoting the standardization of commodities and services in Zimbabwe. Registration is mandatory in terms of the Standards Development Fund Act [Chapter 14:19]. The SDF levy is a quarterly 0.5% of a company’s gross payroll total inclusive of salaries, allowances, benefits and bonuses.
ZIMDEF (Zimbabwe Manpower Development Fund) is a statutory organization established by law to facilitate the development of critical and highly skilled human capital in Zimbabwe. Registration is compulsory by law and non-compliance can result in fines, penalties and/or imprisonment. The ZIMDEF levy (training levy) is 1% of the company’s gross payroll total inclusive of salaries, allowances, benefits and bonuses.