labour.gov.za How To Pay the Compensation Fund : South African Department

Organization : The South African Department of Labour
Head Quarters: Pretoria
Facility : How To Pay the Compensation Fund

Website : https://www.labour.gov.za/

How To Pay Labour Compensation Fund?

** The Compensation for Occupational Injuries and Diseases Act requires employers to pay the Compensation Fund.

Related / Similar Service : Compensation Fund Bursary Programme 2021

Paying the Compensation Fund :
When employers want to pay, they must use the following steps :

Step 1 :
** Wait for the notice of assessment
** From April every year, the Compensation Fund sends employers notices of assessments that tell them how much to pay.

** This is done throughout the year, and it is not possible to predict when employers will receive their notices.
** If employers did not receive an assessment for a whole year, they must contact the Compensation Fund to find out if there is a problem.

Step 2: Pay
** The date that employers must pay is printed on the notice of assessment.
** It is usually within 30 days of when the notice was sent.
** There are 3 ways that employers can pay.

Paying By Cheque

Employers can send a cheque to :
The Compensation Commissioner
PO Box 955
Pretoria
0001.

** If they send a cheque, employers must include the remittance advice part of the notice of assessment with the cheque.
** Employers should also write their reference numbers at the back of the cheque.

Paying By Direct Debit

** Employers can pay the amount directly into the Compensation Fund account at any ABSA branch.
** A deposit slip with the banking details of the Compensation Fund is attached to the notice of assessment that employers get.
** The deposit slip also has a unique deposit reference number printed on it.
** If employers use another deposit slip, they must make sure that they include the reference number on that slip.·

Paying By Internet Banking

** When employers pay via internet banking the client code they must use are 0170151.
** The reference number is the number printed on the deposit slip they receive with the notice of assessment.
** The banking details of the Compensation Fund are also printed on the deposit slip.

FAQ On Compensation Fund

The Compensation Fund is a statutory body in South Africa that provides compensation to employees who have been injured or contracted diseases in the workplace. Here are some frequently asked questions (FAQ) about the Compensation Fund:

What is the Compensation Fund?
The Compensation Fund is a statutory body in South Africa that provides compensation to employees who have been injured or contracted diseases in the workplace. The fund is managed by the Department of Employment and Labour.

Who is covered by the Compensation Fund?
All employers in South Africa are required to register with the Compensation Fund and pay a levy. This levy funds the compensation of employees who have been injured or contracted diseases in the workplace.

What types of injuries and diseases are covered by the Compensation Fund?
The Compensation Fund covers injuries and diseases that are related to the workplace, including accidents, diseases caused by exposure to hazardous substances, and injuries resulting from violence in the workplace.