COMPENSATION FUND REGISTRATION
FEES FOR REGISTRATION
REGISTER FOR WORKMEN’S COMPENSATION
The registration for Compensation of Injury and Diseases with the Department of Labour is a legal requirement for all businesses employing one or more people. It can however be a lengthy and complex process. Our experienced staff will take care of the registration process for you, saving you time to concentrate on your business. We will insure your COID registration is completed in minimal time.
PROCESS FOR REGISTRATION
At Coida Services SA we have simplified the process for a quick and easy Workman’s Compensation registration.
Once we have received your proof of payment. the relevant forms will be sent to you along with concise instructions to assist you with the completion of the forms so that it is right the first time. After checking your forms, we will submit them to the Compensation Department. Once you have been allocated a 99….. number, an assessment will be raised which will be sent to you.
Please send us proof of payment of the assessment and we will then provide you with a Letter of Good Standing if you have requested it.
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IMPORTANT
The Compensation for Occupational Injuries and Diseases Act, COIDA, of 1993 requires that all employers, other than those specifically excluded by the Act, be registered with the Commissioner and submit their annual return of earnings. In order to do so, all companies need to be registered as employers with the Compensation Fund of South Africa.
WHAT DOES THE FUND DO FOR ME?
Many employer's see compliance with the Fund merely as a means to getting Letter of Good Standing for tenders and contracts. The Fund is however one of the important building blocks to a successful business, ensuring peace of mind and assurance to both employers and employee's subjected to the possibility of injury & diseases through the work environment. Employers are protected from being sued by employee's injured on duty, while employee's can claim for financial loss caused by injury or diseases.
OUTSTANDING FEES
If there are outstanding monies owed to the fund when we apply for the letter, we will notify the client of the outstanding amount. The client can then make payment to the Compensation Fund directly and submit proof of payment to us. We will hand in the proof of payment to the Compensation Fund. The Letter of Good Standing will then be issued within +- 5 working days after the proof of payment has been submitted and Compensation Fund has no further queries.