Fincor Professional Accountants will assist you in registering of your company with the Compensation Commissioner.

Background info:

Act 130 of 1993 and amended Act 61 of 1997 applies: Compensation for Occupational Injuries and Diseases Act, as amended.
All employers who employ one or more workers (exceptions are noted) in connection with their business or farming activities, are required to register with the Compensation Fund.

Why register?

It is a legal obligation as per the Act. Workers compensation is a statutory insurance that benefits both the injured employee and his or her employer.

The Compensation for Occupational Injuries and Diseases Act applies to:

all employers; and casual and full-time workers  who, as a result of a workplace accident or work-related disease are injured, disabled, or killed; or become ill.

This excludes:

workers who are totally or partially disabled for less than 3 days; domestic workers; anyone receiving military training; members of the South African National Defence Force, or the South African Police Service; any worker guilty of willful misconduct, unless they are seriously disabled or killed; anyone employed outside the RSA for 12 or more continuous months; and workers working mainly outside the RSA and only temporarily employed in the RSA.

Compensation related info:

Workers are entitled to compensation if they are injured while working or contract any work-related disease.
The types of compensation paid to workers for injuries or diseases are: medical aid, temporary disablement, permanent disablement and fatalities.

Employers must submit the required forms to the Compensation Commissioner within 7 days after an injury and within 14 days of being notified of the diagnoses of a disease.
Workers may apply for increased compensation if they are injured or contract an occupational disease due to the negligence of their employer; or a worker who acts for the employer.

To assist you with registration of an employer (on the WAs2 form), Fincor Professional Accountants need the following from you:

• CIPC company registration documents
• Copy of ID of business owner / director
• Description of nature of business
• Completed COIDA registration form
• Letter of authority to act on your behalf

Once registration has been processed, Fincor Professional Accountants will assist with completion of the annual Return of Earnings in order for your company to obtain a Letter of Good Standing.