HomeHome SearchSearch MenuMenu Our productsOur products

Experts answer the top six COID questions

by , 16 April 2014
There's a lot of confusion regarding the Compensation for Occupational Injuries and Diseases Fund (COID). Some employers don't even know that they have to submit their Return of Earnings to the Compensation Commissioner every year. But if you don't, you'll end up incurring harsh penalties. Don't let this happen to you. If you haven't registered for COID, read on to discover the answers to six important questions so you'll avoid penalties.


Do you know when to claim from COID? Shocking survey reveals 5 out of 7 managers don't!

Discover what your company can claim for today...


Here are the answers to the six most common COID questions

#1: What is COID?

Answer: The Health & Safety Advisor says COID is a government body that compensates injured workers or those who've contracted a disease at work.

By registering with COID and paying your tariffs, you're contributing to that compensation.

#2: Why must you register for COID?

Answer: It's a legal requirement for you to register with COID, even if you employ only one person.

If you've got more than one company, then you must register all companies.

Note: You're allowed to register all your companies as a single registration, but you'll have to apply to the Compensation Commissioner to do this.

The Commissioner will then decide if he'll grant your request. He'll base his decision on whether or not you've complied with all your legal requirements under the COID Act.


If there was a fire, violent strike or explosion in your company, would your first aider know what to do?

WARNING: Just because you've appointed a first aider and have a first aid kit in your office doesn't mean you've done everything to protect your employees


The one vital element MISSING FROM 88% of all first aid training!

Do your first aiders know what it is?

Click here to find out


#3: What happens if you fail to register for COID?

Answer: If you don't register for COID or pay your tariffs and an employee's injured, contracts a disease, is disabled or dies, you could end up paying thousands in damages to your employee or their dependants. It could cost your company millions, says the Health & Safety Advisor.

#4: What happens after you've submitted your COID registration form?

Answer: When your registration is approved and you've paid your tariffs, the Commissioner will send you a letter.

This is called a 'Letter of Good Standing' with COID. It's your proof that you're compliant, i.e. that you're registered with COID and are paying your tariffs.

#5: How do I know what amount I must pay COID for my tariffs?

Answer: You have to submit your Return of Earnings (details of your employees' salaries) to the Compensation Commissioner so he'll assess your business. He'll then determine how much you need to pay.

#6: When should I submit my Return of Earnings?

Answer: You must submit your Return of Earnings to the Compensation Commissioner every year.

The statement of earnings must be from 1 March of the previous year to the end of February of the current year.

If you're already registered with COID, the deadline for submitting Returns of Earnings for 2013 is the 31st of May 2014.

There you have it. We hope these answers have shed some light regarding COID and that they'll help you comply.

Related articles

Related articles

Watch And Learn

Related Products


Recommended for You 

  Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance

Here are all the most interesting, thought-provoking and common tax questions
asked by our subscribers over the last tax year – everything from A to Z!

To download Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance click here now >>>
  Employees always sick? How to stop it today

Make sure you develop a leave policy to regulate sick leave in your company.

BONUS! You'll find an example of the leave policy and procedure in this report.

To download Employees always sick? How to stop it today click here now >>>
  Absenteeism: Little known ways to reduce absenteeism

This FREE e-report will tell you how you can reduce absenteeism in your workplace while avoiding the CCMA and without infringing your employees' labour rights.

To download Absenteeism: Little known ways to reduce absenteeism click here now >>>
  7 Health & safety strategies to save you thousands

Don't let a health and safety incident cost you one more cent. Implement these seven
strategies in your company today.

To download 7 Health & safety strategies to save you thousands click here now >>>