THE IIE'S VARSITY COLLEGE THE STORY SO FAR The IIE’s Varsity College was established, with one campus in KwaZulu-Natal, in 1991. Today it is a leading private tertiary education brand with eight campuses in South Africa: Cape Town, Port Elizabeth, Westville, Durban North, Pietermaritzburg, Sandton, Waterfall and Pretoria. Its overarching academic body is The Independent Institute of Education (The IIE). The IIE has the responsibility for ownership, academic governance, teaching, assessment and quality assurance. It also assumes responsibility for the registration, assessment and certification of all students at each campus. The IIE is a wholly owned subsidiary of ADvTECH Limited, which is listed on the Johannesburg Stock Exchange (JSE). The IIE has been accredited by the internationally recognised quality assurance agency, the British Accreditation Council (BAC). The BAC is an independent authority in the UK that accredits private education providers globally. The IIE’s Varsity College has developed a proud history of alumni and today employs many of its alumni, some of whom started as part-time employees while studying and others who went off into the world, only to return after gaining valuable experience in other industries to work at The IIE’s Varsity College. The IIE’s Varsity College appeals to students who want a tertiary experience that encourages a holistic learning approach; like small classes, excellent lecturers with experience in the field in which they lecture, and a mentoring and nurturing environment that is provided by the well developed student support services available on each campus. The IIE’s Varsity College is completely ‘peoplecentric’ and is proud of everyone who forms part of the team. Over the years it has evolved and innovated its HR policies and practices to reflect this. Like all good stories, it is definitely nowhere near the end, and it merely pauses occasionally to gather momentum to continue to strive to not only be the best in tertiary education, but also to be the ‘Best Employer.’
ReMUNERATION ALL ABOUT GETTING PAID The IIE’s Varsity College pays a total cost to company package. What does this mean? Simply put, if you agreed to being paid R1,000 per month or R12,000 per annum, all of the contributions to the Provident Fund (compulsory), medical aid (optional) and any structured allowances; e.g. a car allowance, will have been included in this amount. So if we were to say that your total contributions are R100 per month, you can expect to receive a ‘salary’ of R900 each month, before tax. At the time of signing your employment contract, you can choose whether or not you want your total cost to company package paid proportionately over twelve (12) or thirteen (13) months. The beginning of the financial year at Varsity College is January, so if you join after January and you select the thirteen (13) month option, it will be a pro-rata amount for the remainder of the year. Current employees can request the thirteen (13) month option at the beginning of each year. Please note that there are two tax choices on the thirteen month option as follows: 1) Monthly (i.e. taxed on the 13th cheque over ten (10) months from March to December). 2) Once off (i.e. taxed on the 13th cheque in December). Please speak to your HR Department for more details on this option. Salaries are paid on or about the 25th day of each month by direct transfer into your banking account. Any deviation to the above is at the discretion of the company; e.g. early payment in December. TAX AND OTHER DEDUCTIONS RENDER UNTO CAESAR ... The company will deduct any amounts from your remuneration as required by you, law or as required in terms of any agreement between you and the company. • For example, if you decided to join the optional medical aid scheme as offered by the company, your contribution will be deducted from your cost-to-company payment and it will be paid over by the company directly to the medical aid. • The law requires the company to deduct and pay over income tax. This is just one example of a deduction that is required by law.