Opportunity of a lifetime Summarised Human Capital Information

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1 Opportunity of a lifetime Summarised Human Capital Information

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3 Table of contents Summarised Human Capital Policy Information 1 General employment information 2 IT & Telecom 5 Leave benefits 10

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5 Summarised Human Capital Policy Information Welcome to PwC! We are delighted about your decision to join the firm! In this file you will find a quick summary of those internal policies and procedures that affect you directly and immediately on joining. We do not want to overwhelm you prior to joining and therefore only provide what we think necessary now. We recommend that you make notes while reading through the document and bring them with you on the day that you join we will have a Question & Answer session. The complete set of Human Capital Policies and Procedures will be available to you starting from your first working day. Please spare some time to go through the Human Capital Policies and Procedures database during your first working week. PwC 1

6 General employment information Working hours In most offices our hours of work are from 8am 4.30pm with a 30 minute lunch break. Pay Day Usually on the 25 th of each month unless this date falls on a weekend in which case pay day will be the Friday before or the Monday afterwards. Time Sheets We record our time on an internal system called Maconomy. You will be required to complete your time-sheet on a weekly basis. Your Line of Service/ office will provide appropriate Maconomy training shortly after your arrival. Employment agreement When you were appointed to a position at PwC you would have received a contract of employment outlining critical information regarding your conditions of service. This agreement will indicate your entitlement with regard to leave, allowances and remuneration. If you have any questions about the employment agreement, please discuss these with your Human Capital manager on your arrival. Where you fit in PwC s grading system Your contract would include clarification of how your job relates to others in your Line of Service. 2 Summarised Human Capital Policy Information

7 Partner/ Director Partner/ Director Partner/ Director Partner/ Director Associate Director Associate Director Associate Director Associate Director Senior Manager Senior Manager Senior Manager Senior Manager Manager Manager Manager Manager Assurance Assistant Manager Advisory Assistant Manager/ Senior Consultant Tax Senior Consultant IFS Assistant Manager Accountant 4 Consultant 4 Consultant Accountant 3 Consultant 3 Practitioner Accountant 2 Consultant 2 Junior Consultant Accountant 1 Consultant 1 PwC 3

8 How we structure remuneration packages In PwC the cost to employer principle is applied to all remuneration packages. This means that all benefits and group schemes are paid for, in full, by the employee and that these amounts have been calculated as part of the overall offer of remuneration. The employer makes no additional/ over-and-above contributions for Medical Aid, Provident Fund etc. The firm does offer flexible package structuring in as far as it is possible considering legislation and the content of your employment contract. You will have an opportunity to discuss this with one of our payroll consultants. 4 Summarised Human Capital Policy Information

9 IT & Telecom PC s and Software PwC is a technology-driven firm, and therefore the use of computers is critical for all employees in the execution of their job functions. Employees will be supplied with a computer that complies with the firms minimum technical requirements. The decision of whether a desktop or notebook computer will be issued, resides with the Line of Service leader of the employee as it is dependent on the employee s job function. Staff may not use their own computers purchased from any outside supplier in their jobs. Future upgrades to computer software and hardware will be carried out by the firm. The software may only be used by employees while in the firm s employ. The firm will insure all computers, but any payment owing to damage to the computer will be for the employee s own account. The computer must be available for the execution of the employee s duties at all times during the contractual period. Cell Phone Scheme The granting of a cell phone allowance is at the sole discretion of the firm. All employees, regardless of level, are responsible for arranging their own cellphone contracts with a suitable supplier. Employees will receive a fixed monthly taxable cell phone allowance, as part of their monthly total cost to employer package. Employees that qualify for a cell phone allowance are trainee accountants, professional consultants, assistant managers and above. In addition, any employee where the nature of their work requires a cell phone is eligible at the discretion of the applicable Partner only. Employees that qualify for a cell phone allowance will currently receive R300 per month as a taxable cell phone allowance, as part of their total cost to company package. Please visit the Human Capital Policies and Procedures database for more information about our Cell Phone scheme and allowance. Travelling on business for PwC The firm will arrange and pay for air tickets. If the employee uses his or her own car, travel and parking costs may be claimed in the normal way through the expense claim system. As a guideline these travel costs should not exceed the cost of an airfare. Employees who opt to stay with family or friends while out of town for business purposes will not be compensated for any accommodation costs. The employee may claim certain fundamental expenses (e.g. daily meals) through the expense claim system, at the discretion of their manager or partner. All expense claims must be supported by proof of the expenses incurred, prior to approval. Please note that the above- mentioned daily allowance does not apply if the employee is away for Learning and Education purposes. For more information please visit the Human Capital Policies and Procedures database. PwC 5

10 Subsistence Allowance Where an employee travels for business purposes, in South Africa, Lesotho, Swaziland and Namibia (the Common Monetary Area) and all other South Market countries (Botswana, Malawi, Zimbabwe and Mozambique) the employee could claim a subsistence allowance, on the following basis: As far as is practicable, the firm will directly arrange and pay for accommodation on a bed and breakfast basis. However, to the extent that the employee actually pays for these costs, he or she may claim them through the expense claim system subject to approval by the partner. Meal expenses may also be claimed back through the expense claim system to a maximum of R per day inclusive of the R88.00 incidental cost referred to below. The amount covers incidentals such as snacks, newspapers, telephone calls, tea and coffee, laundry, room service, etc. Incidentals are generally defined as small costs for which the employee is unable to provide documentary proof of the expense. The employee does not have to account to the firm for these expenses and the allowance will be paid as part of the normal expense claim system. The amount should only be claimed if actual incidental costs were incurred. If an amount less than R88 is spent on incidentals, then that amount is claimable and not the full R88. Taxi fares may be claimed separately through the normal expense claim system. This allowance is tax-free and no employees tax will be deducted from it. Employees are required to submit an expense claim for this amount, detailing the total amount claimable. This must be authorised by the employee s manager/partner. For more information please visit the Human Capital Policies and Procedures database. 6 Summarised Human Capital Policy Information

11 International Travel Where an employee travels for business purposes, in South Africa, Lesotho, Swaziland and Namibia (the Common Monetary Area) and all other South Market countries (Botswana, Malawi, Zimbabwe and Mozambique) the employee could claim a subsistence allowance, on the following basis: As far as is practicable, the firm will directly arrange and pay for accommodation on a bed and breakfast basis. However, to the extent that the employee actually pays for these costs, he or she may claim them through the expense claim system subject to approval by the partner. Meal expenses may also be claimed back through the expense claim system to a maximum of R per day inclusive of the R88.00 incidental cost referred to below. The amount covers incidentals such as snacks, newspapers, telephone calls, tea and coffee, laundry, room service, etc. Incidentals are generally defined as small costs for which the employee is unable to provide documentary proof of the expense. The employee does not have to account to the firm for these expenses and the allowance will be paid as part of the normal expense claim system. The amount should only be claimed if actual incidental costs were incurred. If an amount less than R88 is spent on incidentals, then that amount is claimable and not the full R88. Taxi fares may be claimed separately through the normal expense claim system. This allowance is tax-free and no employees tax will be deducted from it. Employees are required to submit an expense claim for this amount, detailing the total amount claimable. This must be authorised by the employee s manager/partner. For more information please visit the Human Capital Policies and Procedures database. PwC 7

12 Benefits PwC recognises and appreciates our employees for their hard work and commitment and provides them with an above-average benefits package. Our benefits package reflects the diversity and mobility that makes PwC so unique. It provides access to programmes that can be tailored to meet the personal health and financial well-being needs and goals of our partners, staff and their families. The benefits programme also reflects our philosophy of shared responsibility. PwC pays the full cost of some benefits, for other benefits our employees either share the cost with the firm or have a good discount. Partners and staff pay the full cost of some other coverage. In addition, some benefits have special eligibility requirements Sports Club Memberships Managerial staff below Associate Director level are entitled to receive a contribution from the firm of up to R2500 per annum. Associate Directors may receive a maximum of R6000 per annum. These staff members may choose to allocate the amounts above to the membership of their choice, be it either for gym/sports club membership or for Toastmasters. The allocations may not be exceeded. Currently the firm has a corporate membership agreement with Virgin Active. The contribution from the firm includes the annual as well as the entrance fees. Further advice is available from your Human Capital Manager. Professional Subscriptions The firm will cover the cost of an employee s primary professional body membership, where registration is required in order for an employee to conduct business on behalf of PwC, or where the employee is expected to be a member of the relevant professional body, for example SAICA. Where a second professional registration is deemed necessary, the firm will pay for or reimburse an employee for a second professional body membership. Payment for a second registration is thus not an automatic entitlement. The firm will pay for or reimburse an employee for the annual subscription of a second professional body, provided that membership is required for the employee to perform his/her job and is relevant to his/her role or discipline. Lines of Service will determine which professional societies are covered. CAMAF (Medical Aid) All employees must join CAMAF unless covered by a spouse s medical aid. All medical aid contributions are included in your total cost to employer package. Please follow the link below to the CAMAF web-site to learn more about their products before you join. A CAMAF representative will be present when you join to answer all your questions. Please visit the CAMAF web-site at for more information. 8 Summarised Human Capital Policy Information

13 Employee Assistance Program (EAP) The EAP is a programme of services offered to staff and family members, at no cost, to provide personal support, problem solving, counselling, practical information and consultation for a range of personal or work-related concerns. The EAP is there to assist employees in balancing their work and personal responsibilities and contribute to the creation of a work environment where employees are significantly assisted towards the achievement of their full potential personally as well as within PwC. Please visit the Human Capital Policies and Procedures database for more information on the EAP Personal and work-related stress Rapidly changing technology Heavier workloads Longer working hours Locally, high levels of exposure to crime and trauma, transformation and dwindling social support networks. Within this context, PwC employees still need to deal with the practical and emotional challenges of everyday home and work life. The EAP is a valuable lifeline in times of crisis or when it is necessary to talk things through with someone who can be impartial. limit potential and wellbeing. The firm is committed to being the employer of choice for its employees, and offering an EAP assists the firm in attaining this objective. Please visit the ICAS website ( for more information. PwC Provident Fund The PwC Staff Provident Fund is administered by Alexander Forbes Permanent employees joining the firm are obliged to become members of the Provident Fund on the date of commencement of their employment with the firm and remain members of the Fund throughout their period of service with the firm, during which they are bound by the rules of the Fund. An employee who does not elect to join the Fund upon commencement of employment is obligated to join the Fund on the date on which that employee has completed three consecutive years service with the firm. An employee who does not join the Fund upon commencement, but wishes to join within the three year consecutive period of employment, may do so at any time within this period. Once they are members of the Fund, employees are obliged to It is recognised that employees live and work under unique circumstances, and the influences mentioned above often PwC 9

14 Leave benefits Annual Leave Your Letter of Appointment/Employment Contract will indicate your personal leave entitlement. All employees are obliged to utilise the statutory minimum entitlement namely 15 working days, by 31 December each year, i.e. 6 months after the end of the leave cycle. You will accumulate leave on the following basis: Entitlement Accumulation 15 working days (up to five years) None (only derived from overtime worked) 20 working days (after to five years) 5 days (end of any leave cycle) with maximum accumulation of 10 days at any given time. These employees may also accumulate leave derived from overtime, subject to the mentioned 10-day limitation Accountants and Consultants are entitled to 20 working days leave on completion of five years service or on promotion to Assistant Manager. Assistant Managers and above also qualify for 20 working days leave. In addition to the Annual Leave in PwC you may have the following leave benefits: Please read up on leave allowances in the Human Capital Policies and Procedures database. PwC Leave Benefits In PwC we have several types of leave, such as maternity leave, career break, short periods of leave on a paid and unpaid basis, study and examination leave, unpaid leave and annual paid leave (vacation): 10 Summarised Human Capital Policy Information

15 Annual Leave Your Letter of Appointment/Employment Contract will indicate your personal leave entitlement. All employees are obliged to utilise the statutory minimum entitlement namely 15 working days, by 31 December each year, i.e. 6 months after the end of the leave cycle. You will accumulate leave on the following basis: Entitlement Accumulation 15 working days (up to five years) None (only derived from overtime worked) 20 working days (after to five years) 5 days (end of any leave cycle) with maximum accumulation of 10 days at any given time. These employees may also accumulate leave derived from overtime, subject to the mentioned 10-day limitation In addition to the annual leave you may have the following leave benefits: Type of leave Allowance Comments Study and examination leave Family Responsibility Leave Maternity Leave and Adoption Leave Depending on the number of attempts that the employee has had in passing the exam. Decreases from the first to the second attempt Max 3 days + up to 2 days where travelling is involved 4 months paid leave 4 months unpaid leave 4 months unpaid leave The studies must be directly relevant to the employee s current position. The employee must be enrolled in an accredited university/college/institution Applies to cases where family members are ill or for bereavement in the event of the death of a close relative For female staff who have been with the firm for more than 1 year For female staff who have been with the firm less than 1 year PwC 11

16 Paternity Leave 5 working days per annum Applies to all fathers in the event of their child s birth. This leave entitlement is noncumulative in nature and expires at the end of each leave cycle Unpaid Leave Negotiable Applicable in exceptional circumstances Special Leave Negotiable Applicable in extraordinary circumstances and at the absolute discretion of the Human Capital Partner Sports Leave 5 working days per annum Employees representing the country on a national level, granted on a 50/50 basis Sick Leave Leave to Attend Conferences Public Holidays 3 working days per annum Employees representing their province, granted on a 50/50 basis 30 working days during an unbroken 3-year period of employment Negotiable As specified in the Government Gazette Any days exceeding this limitation are granted without pay The attendance of all conferences, whether overseas or locally, will be carefully considered and evaluated at Partner level All employees, regardless of religion or level of responsibility, are entitled to national public holidays. Religious The last few pages provide you with an overview of all the schemes you will be obligated to join as part of your conditions of employment: The type of cover provided by the scheme Premiums Claims and other procedures 12 Summarised Human Capital Policy Information

17 PwC Group Schemes The Group Major Medical Expenses Scheme The Group Life Insurance Scheme (including Spouses Insurance) Personal Accident Insurance Group Income Security Scheme For each of these schemes, there will be a corresponding document in Your Starter Pack which you will be required to complete in full in your first two days with the firm. Group Major Medical Expenses This is a compulsory scheme for all PwC members of staff. The scheme is distinct from CAMAF a top-up benefit. It is in essence a disability benefit that recognises illness or accidents requiring hospitalisation/intensive care and reimburses the member for any additional costs or inconvenience. The firm recognises that there may be times when an employee or their dependants may suffer from illness or accidents and subsequently require medical attention in the form of hospitalisation, intensive care and/or surgical procedures. The costs of these procedures may not be covered by the employee s medical aid owing to exhaustion of the cover provided or limited cover for certain medical procedures. As a result, the firm provides the additional benefit of a Group Major Medical Expenses Scheme, to assist the employee in covering the medical costs incurred Your spouse and minor children are covered with certain limits. You will receive further information on your first working day with the firm. PwC 13

18 Group Life & Spouses Insurance Scheme This is a compulsory scheme for all PwC members of staff it is underwritten by Sanlam. It covers you and your spouse or life partner in the event of your death or permanent disability. Contributions are included in your Cost to Company (CTC) and premiums are calculated by formula based on your CTC. Claims must be submitted to Human Capital within 6 months. The benefit structure for this scheme can be summarised as follows: Death Disability Accident Group Life x4 CTC x1 CTC x4 CTC Limited to R 2,500,000 Spouse x2 CTC Limited to R 1,500,000 x2 CTC Limited to R 1,500,000 Personal Accident Insurance This is a compulsory scheme for all PwC members of staff also underwritten by Sanlam. It is a 24-hour accident insurance scheme that covers you in the event of death, permanent disability, loss of limbs, sight, hearing etc. all as a result of an accident. Contributions are included in your Cost to Company and the premiums are again formula-based and dependent on what you earn. 14 Summarised Human Capital Policy Information

19 You are covered for an additional 4 times you annual cost to employer with a maximum of R Claims to be submitted within 6 months. Group Income Security Scheme This is also a compulsory scheme for all PwC members of staff. This disability benefit covers you in the event of prolonged illness or absence resulting in loss of income. The benefit is different from the Group Life disability benefit since it pays out on a monthly basis and not as a lump sum benefit. Contributions are included in your Cost to Company (CTC) and the premium is calculated by formula, based on your CTC total. Claims must be submitted within 3 months of the relevant event. Under this scheme you will be covered for 60% of your monthly CTC, subject to a maximum benefit of R per month. Once you ve arrived and settled in, please visit the Human Capital Policies and Procedures database for more information on policies. A last word as if all the policy information was not enough! Please feel free to ask your Human Capital Manager for assistance wherever you may need it. We look forward to your arrival and trust that you will have an exciting and successful career with PwC! PwC 15

20 2014. PricewaterhouseCoopers ( PwC ), the South African firm. All rights reserved. In this document, PwC refers to PricewaterhouseCoopers in South Africa, which is a member firm of PricewaterhouseCoopers International Limited (PwCIL), each member firm of which is a separate legal entity and does not act as an agent of PwCIL. ( )