What Is COIDA?
COIDA stands for “Compensation for occupational Injuries and diseases act”. COIDA was put in place as insurance for employers and employees against injuries, diseases, death & illnesses related to the workplace. The compensation fund is covered by the compensation for occupational injuries and diseases act (no 130 of 1993) (Coida) and the compensation for occupational injuries and diseases amendment act (no61 of 1997). The compensation commissioner is appointed to administer the fund and approve claims of employees.
Who Does COIDA Apply To?
The compensation for occupational injuries and diseases act applies to all natural and juristic persons who employ at least 1 person. In other words, whether you are an individual trading as a sole proprietor, a company (Pty) Ltd, Trust, Close corporation etc and you employ staff, it is compulsory for you to be registered with the Workman’s Compensation Association. Registration with the Workman’s Compensation Association makes you compliant with COIDA and eligible for a letter of good standing.
What Is The Benifit?
When you are COIDA compliant you are eligible to receive a letter of good standing from the workman’s compensation association. This letter of good standing certifies that you have met the requirements of the compensation fund and are covered in case of injury, death, disease or illness. There is a lot of attention being placed on employers to ensure they create a safe working environment for their employees, for this reason many companies will not employ contractors of any kind if they are not COIDA compliant.
Return Of Earnings Annual Requirement
Your initial registration with the workman's compensation association also serves as your initial assessment for the current period. The letter of good standing you receive as a result of your payment of the initial assessment will be valid until the end of that period. Workman's compensation return of earnings become due by the 30th April each year. To remain COIDA compliant you are required to submit your return of earnings on an annual basis.
How We Work
Our goal is to make your COIDA compliance a process that is as simple as possible and efficient as possible for you, the business owner. To that end we streamline our information gathering technique with use of online forms on our website & E-mail. All that is required from you is to sign the completed documentation we send you, sign it and send it back to us. We then represent you at the compensation house in Pretoria to ensure a speedy level of service.