Question

Describe how the SETA are funded?

Answer 1

Eligible companies receives from the MICT SETA .They are basically calculated at 20 % of an employers 1% skill levy.There are certain criterias to be met by the eligible companies to receive the grants from SETA.
The company should be regular or up to day levy payer.The companies who require funds from the SETA should also be registered as per the Skill development levies act.
The WSP and ATR should be registered before the required deadline.Pivotal programmes receives grants from the SETA.SETA allocates 80% of its total discretionary grants to the pivotal programmes.