Don't let queuing at the Compensation Fund ( COIDA) , get you down.
Before you can get a Letter of Good Standing from the Compensation Fund , you need to be registered with COIDA. This means that you are officially listed as a Company in South Africa which has a work environment that qualifies for employees to work in.
If you are registered and your fees are up to date your Company and it's Employees will be covered in the event of workplace injuries. This will exempt you from any personal liability which can be extremely costly.
To apply for most contracts and tenders you will need to submit a Letter of Good Standing from the Compensation Fund. Once registered and up to date with the Compensation Fund you can then apply for a Letter of Good Standing.
What is the Compensation Fund ?
The Compensation Fund or COIDA is a Government institution put in place to protect Employers and Employees should an injury/death/disease occur to any employee in 'the line of duty'.
The South African Government has set up a special fund to compensate employees for injuries or diseases/death resulting from work. If you are injured or die , either you or your dependents can claim from COIDA.
Who must register with the Compensation Fund?
All employers who employ 1 or more employees must register with the Compensation Fund . Employers need to register and pay an annual assessment fee to qualify.
Please contact us and we will get you registered with Workman's Compensation.
Once you are registered we will obtain your Letter of Good Standing.
If you would like to speak to one of our consultants , please call 0620975892