Numsa secretary general Irvin Jim said the union's national executive committee had discussed the "improved benefits" on Sunday and decided that workers needed to return to work within the next 48 hours.
The settlement included a possible wage increase of 10 percent for general workers.
About 170 000 workers from Numsa, the Metal and Electrical Workers Union, and the SA Equity Workers Association started a countrywide strike two weeks ago. They demanded wage increases of 10% to 13% and a ban on labour brokers.
Several other unions from the chemical, transport, petroleum and energy sectors joined the strike last week.