The Soweto giants have come under fire from all angles following the report made in Sunday World but they have since provided clarity.
Without confirming whether the figure was true, Amakhosi have explained that Bvuma as a development player - and not expected to have made a senior appearance this season - was still being paid what is effectively an apprenticeship wage.
A statement on the club's official website read as follows: "The club would like to place on record that Bvuma has been part of the Kaizer Chiefs development structures since 2013/14.
"It was not anticipated that the player would be involved with the senior squad this season. However, after both first-team goalkeepers, Itumeleng Khune and Brilliant Khuzwayo, were sidelined through injury in March 2017, the club faced an emergency situation and, following a full assessment of the options available, elected to draft Bvuma into the senior squad after showing tremendous form in the MDC league.
"Kaizer Chiefs operates within a graded structure that provides the framework for contracts with players at development, reserve team and first team level.
"In so far as the details of players’ contracts are concerned, the terms and conditions of such agreements are confidential between the club, the player and their representative/parents.
"As such, the salaries are subject to negotiations between the club, the players and their representatives/parents, and all contracts are finalised through the mutual agreement of all parties concerned."