To provide for compensation for disablement caused by occupational injuries or diseases incurred or contracted by employees in the course of their employment, or for death caused by such injuries or diseases, and to provide for matters connected therewith.
The COID Act in South Africa, requires all employers, who employ one or more employees, to register with the Compensation Commissioner within 7 working days from the date of first employment.
The COID Act in South Africa, requires all employers, who employ one or more employees, to register with the Compensation Commissioner within 7 working days from the date of first employment.
COIDA, or the Compensation for Occupational Injuries and Diseases Act, is a South African law that establishes a compensation system for employees who sustain work-related injuries or contract occupational diseases. It provides a framework for compensating employees or their dependents when such injuries or diseases occur in the workplace. COIDA is meant to protect the rights and well-being of workers by ensuring they receive appropriate compensation and medical benefits when they experience these types of incidents.
Regarding your question about company registration, yes, if your company operates in South Africa and employs workers, it is required to be registered with the Compensation Fund under COIDA. Registration with the Compensation Fund is mandatory for most employers. It is the responsibility of employers to contribute to the fund, and in return, their employees gain access to compensation and medical benefits in the event of work-related injuries or diseases. Failure to register and comply with COIDA requirements can result in legal penalties and liabilities for the employer.
How the Compensation Fund Process Works:
Begin the registration process by completing the necessary forms online or in person. We encourage online registration for convenience, but we’re available to assist in case of any issues.
Once registered, the company should submit their Return of Earnings for all the years during which they were not compliant with the Compensation Fund. We will provide you with a template to facilitate this.
Invoices will be generated for each year in which the company was not compliant with the Compensation Fund. The company is required to make the full payment within one month. If the amount is unexpectedly high, we can arrange for an installment plan, allowing you to receive a monthly Letter of Good Standing upon agreement.
Upon the settlement of the full outstanding amount, the company will receive a Letter of Good Standing. This letter signifies that the company is in good standing with the Compensation Fund and is eligible to claim compensation in the event of work-related injuries or duties.