What do you need to know about workers compensation in the event of an injury? Registering for workers’ compensation helps you and your employees.
KamranAydinov | Freepik.com
Let’s start off with looking at what workers’ compensation actually is. It’s a kind of insurance put in place by the Compensation for Occupational Injuries and Diseases Act. The idea behind this is to protect employers from facing hefty financial burdens in the event of an employee being injured on duty. This means that employees who are injured on the job or who have contracted an illness as a result of their work receive some financial assistance.
Documents you will need when you register:
- Company registration documents
- Details of employees including name, ID number and job description
- Proof of earnings for each employee
- Banking details
Next, you’ll need to fill in the COIDA W.As.2 form. You can get one of these forms by downloading it here: coida.co.za/wp-content/uploads/2015/11/WCA-Registration.pdf or you can register online at https://cfonline.labour.gov.za/OnlineSubmissions/?1.
Submit this form at your nearest Department of Labour office. They will use the info on the form to work out how much you need to pay for an annual assessment fee. Once they advise you of this fee, you make payment. This payment completes the process.
Your company will then receive a letter of good standing, which serves as confirmation that you are compliant with workers’ compensation regulations. This also means that your employees are covered for work-related injuries or illness.
This is a vital consideration if you own and run your own business and have people working for you. Anything may happen – especially in plumbing – and not only will you be ensuring your employee is taken care of, you will be complying with the law.
References:
- 1 new message (companypartners.co.za)
- A Step-by-step Guide: Registering For Workers’ Compensation – McCarthy Attorneys Inc (maalaw.co.za)
- http://www.labour.gov.za/legislation/acts/basic-guides/basic-gu (wcawca.co.za)
