The Coronavirus Job Retention Scheme (CJRS) changes from 1 October 2020.
The UK Government will pay 60% of wages up to a cap of £1,875 for the hours the employee is on furlough.
Employers will pay ER NICs and pension contributions and top up employees’ wages to ensure they receive 80% of their wages up to a cap of £2,500, for time they are furloughed.
The Coronavirus Job Retention Scheme will close on 31 October 2020.
When the scheme closes on October 31, you must decide to either:
- bring your employees back to work on their normal hours
- reduce your employees’ hours
- terminate their employment (normal redundancy rules apply to furloughed employees)
For further information please visit the GOV.UK website.