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Six steps to being legally compliant with COID

by , 02 July 2014
Complying with the Compensation for Occupational Injuries and Diseases Act can seem daunting. It's an ongoing process that requires you to submit documents ever year.

It can get really complicated if you lose track of the process.

But there's good news. If you working through it step-by-step, it'll be much more manageable.

There are six steps you need to follow...

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Keep track of your legal compliance with the COID Act

One of the most important ways to keep track of your COID compliance is to keep records. With each step you complete, there are different documents and records you need.
You need to keep all of these. They'll help you check what you've done and what you haven't. You also have to keep some of these documents because the law demands it of you too.
So make sure you keep the right records for each of these six steps...

Here are six steps to follow COID compliance

If you want to be legally compliant with COID you must:
1.       Get a COID registration form. You can get the COID form from a Compensation Fund office, the Department of Labour or www.labour.gov.co.za;
2.       Attach your return of earnings (statement of earnings). This shows how many employees you have and how much you pay them;
3.       Make changes to your registration within seven days of the change happening;
4.       Receive your assessment from the commissioner (and keep this document). The compensation commissioner will start sending these out from the 1st of April each year;
5.       Pay your assessment tariff within 30 days of getting your assessment from the commissioner. If you don't, you'll have to pay a fine of 10% of the total amount too; and
6.       Make sure you're never late with your submission of your return of earnings.
Follow these six steps and you can be sure you're 100% compliant!
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