Coronavirus Job Retention Scheme has been extended to all UK businesses until September 30, 2021 and the level of support will remain the same until June 30, 2021.
At present, the UK Government pays 80% of a furloughed employee’s wages up to a maximum of £2,500 per month with the employer paying National Insurance and pension contributions.
However, from July 1, 2021, employers will be asked to increase their furlough contributions towards staff wages as the Treasury will decrease its support from 80% to 70% per employee.
This means employers will need to pay 10% of the salary for any hours not worked by the employee while continuing to pay National Insurance and pension contributions.In monetary terms, employers will have to pay a minimum.
Read more on dailyrecord.co.uk
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