COIDA – Health & Safety

COIDA – Health & Safety
13
May

By Selina Thompson (Personal Tax & Payroll Manager – FinServe Accounting)
selina@finservegroup.co.za
SAFETY FIRST – ARE YOU COMPLIANT?

The Compensation for Occupation Injuries and Diseases Act (COIDA) deadline for Return of Earnings Submission is 31 May 2019. COIDA – Health and Safety is a crucial part of any business.  No matter what type of business you are operating, the reality is that people can get injured while at work.

Injuries can become very expensive for employers, thus an ‘insurance fund’, called the Compensation for Occupational Injuries and Diseases (COID), was created to assist workers.  It is governed by the Compensation for Occupational Injuries and Diseases Act (COIDA). COIDA not only covers for injury but also occupational disease as well.

Your Company’s total estimated wage and salary expenses for the 2019 Tax Year together with the rate of the Sub-class section your business falls in will be used to calculate the amount payable to the Compensation Fund.

If FinServe is attending to the Payroll function for your business, our Payroll Department will attend to all Submissions and will send through notification of the amount payable to the Compensation Commissioner. Once Payment has been affected, we will generate the Online Letter of Good Standing which we will email to you.

All Employers are compelled by Law to register and contribute to the COIDA. It serves as an “Insurance Fund” to employers as well as providing medical care and some compensation to injured employees.

If you would like more information with regard to the above please feel free to contact Selina Thompson on 0860 994 094 or selina@finservegroup.co.za

We believe that ‘Sharing is Caring’, and therefore we humbly encourage you to share this information freely with your friends and family. If you have any queries, please feel free to contact us on 0860 994 094 or contact the writer directly.

The information contained in this communication and any other communication from the FinServe Group of Companies is subject to our disclaimer which can be read here.

Visit us at www.finservegroup.co.za to experience ‘Unorthodox Financial Freedom’

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