PAYE is the acronym for Pay-As-You-Earn. In essence it is the tax required to be deducted by the employer from the employee's renumeration.
Companies or employers who are registered (or required to register) with SARS for PAYE or SDL purposes, are also required to register for UIF purposes.Official SARS Definition
The amounts deducted or withheld must be paid by the employer to SARS on a monthly basis, by completing the Monthly Employer Declaration (EMP201).
This is an official declaration whereby the employer indicates the total payment owed to SARS for PAYE, UIF and SDL.More on the Employer Declaration (EMP210)
It must be paid within seven days after the end of the month during which the amount was deducted.
If the last day for payment falls on a public holiday or weekend, the payment must be made on the last business day before the public holiday or weekend.Link to eFiling