3 September 2022
Compliance with the COID Act
Notice is given that the Compensation Fund will embark on employer engagements, site visits and audits to establish effective registration and compliance with this Act.
a) Section 80 of the COID Act requires all employers, who are operating a business with one or more employees, to register with the Compensation Commissioner and to provide all particulars in connection thereof;
(b) Section 81 of the Act requires employers to keep records of earnings and particulars of employees, and to produce such upon request;
(c) Section 82 of the Act requires all employers to furnish the Commissioner with an accurate Return of Earnings on an annual basis;
(d) Section 83 of the Act indicates that the Director General shall assess an employer according to a tariff on the basis of a percentage of annual earnings.
Minimum and Maximum earnings limits
The calculation of compensation schedule has been amended as from 1 April 2022. The minimum and maximum compensation set out in this notice apply retrospectively from 1 April 2022.
Assessment of employers notice gazetted stating maximum earnings on actual earnings is R506 473 (1 March 2021 to 28 February 2022); maximum earnings on provisional statement is R529 264 (1 March 2022 to 28 February 2023); minimum assessment for commercial employers is R1 342; and minimum assessment for private domestic employers is R463.
You can access the general notice here.
