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3 Common questions, regarding the Compensation Fund, answered for you

by , 07 April 2016
The Compensation Fund provides, as its name suggests, compensation to workers who are injured on duty or who contract any illnesses in the course of their employment for you.

Now, when it comes to this fund, there are 3 common questions which are consistently asked.

Below are those 3 common questions asked, along with their relevant answers...

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When we asked the Commissioner what he wants in an incident report, this is what he said...
 
Whenever you place a claim for one of your employees with COID, the Compensation Commissioner examines your incident report in extensive detail.
 
And I know exactly what he looks for!
 
He checks that every detail of the workplace incident or occupational injury has been included along with all the details of your investigation.
 
Miss JUST ONE point on his checklist, and he'll delay your claim. And your employee's compensation will now be your problem!
 
That's why you need to make sure you conduct a thorough incident investigation the first time around.
 
Here are the tips he shared with me!
 
**********************
 
Question#1: How many employees must I have before I register with the Compensation Fund?

As soon as your business has its first employee, you must register with the Compensation Commissioner.

You should use the COID – W.AS.2 form, which deals with registering an employer with the Compensation Fund.

You can get this form from any Regional Compensation Fund office, or from the Department of Labour's website (labour.gov.za).

Question#2: What happens if I use the services of other companies?

If you employ other companies to provide a service for you, such as cleaning, ensure that they are also registered with the Compensation
Commissioner. Ask for their Compensation Fund number as well as a letter of good standing with the Compensation Commissioner.

Any injury or occupational disease concerning a contractor's employees must be sorted out by the contractor.

But if he's not registered with the Compensation Fund, then you will be held liable! So be careful here.

Question#3: How much do I have to contribute to the Compensation Fund?

Before the 31st of March each year, employers and contractors must submit a statement of earnings paid to all their workers from the beginning of March until the end of February.

The annual assessment fee is calculated from the workers' pay as well as from the risks associated with their linesl of work.

The Compensation Fund will calculate how much you must pay, and will send you an assessment document with a date for when the money is due.
 

*To learn more details here, as well as to see what the final common question is, simply page over to Chapter I 02 in your Health and Safety Advisor handbook, or click here to order your copy today. 

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