Avoid non-compliance: Compensation Fund Assistance for Employers.

COIDA
AVOID NON-COMPLIANCE

COMPENSATION FUND ASSISTANCE FOR EMPLOYERS

Dear employer
 
On 14 July 2022, the Director General of Employment and Labour issued a notice informing employers of COIDA compliance and intentions to conduct employer COIDA audits and employer site visits.
 
Despite the dysfunctionality of the Compensation Fund and its inability to execute its own mandate, the employment and labour authorities still have the audacity to threaten employers with non-compliance offenses. However arbitrary this may seem, the compliance legislation must unfortunately be complied with and adhered to.
 
NEASA wishes to bring employers relief with regard to real assistance by ensuring that employers are registered, categorised correctly and do not overpay on their Fund contributions, or where they have overpaid in the past, to ensure recovery of such overpayments and corrections going forward.
 
NEASA has a longstanding co-operative relationship with a specialist service provider and urges employers to utilise these expert services, to ease the administrative and financial headaches of dealing with the Compensation Fund.

This service offering assists employers with, and facilitates, the following processes:

• review of COID setup environment to achieve future savings;
• assistance to employers ensuring that they are correctly classified;
  • performance of the reclassifications of employers to the correct subclass and applicable rate;
• registration of new employers with the Compensation Fund;
• filing and re-filing of employers’ annual Return of Earnings (ROE);
• obtaining Letter of Good Standing (LOGS) from the Compensation Fund;
• calculation of and ensuring correctness of ROE figure declarations, in order to avoid overpayment;
• assistance with the refunding of credits/overpayments;
• assistance with Compensation Fund audits performed on employers; and
• assistance with claims-related issues.

The above services, culminating in actual savings for employers, past and future, are performed on a ‘no-success, no-fee’ basis.
 
The complexities of interacting with the Compensation Fund should not burden you and your business any longer.

If you are interested in using this service, please call 012 332 5350 or send an e-mail to coid@neasa.co.za.

For more information:
NEASA Media Department
media@neasa.co.za