Compensation Fund for Occupational Injuries

[NatashaM]

Hi,

We are going to Open a company with 13 Employees
It is only Office work

The Company is Going to be Paying 100% of Medical Aid at DISCOVERY HEALTH
and it is compulsory for all Employees

The Company will also pay 100% for Life Insurance at DISCOVERY LIFE
( which will cover Dread Disease , Life Cover , Income Continuation Benefit , Severe Illness Benefit & Global Education Protector , Death & Disability )

Would the company still need to pay " Compensation for Occupational Injuries and Diseases Act " even though the Company is covering the Employee in every respect ?

Thanking You,
Natasha

[Dave A]

Would the company still need to pay " Compensation for Occupational Injuries and Diseases Act " even though the Company is covering the Employee in every respect ?

Yes.

[BusFact]

I'm afraid so. Yes.

[NatashaM]

That's unfortunate

Thank You for your help

[NatashaM]

Hi,

Sorry to be a pain -

Someone just sent me the below extract :-
" EXEMPTIONS The state, including parliament and the provincial authorities, and local authorities which have received exemption, do not have to contribute to the fund. These employers are individually liable for any claims for compensation under the Act. Also, any other employer whose employees are adequately covered by other accident insurance are exempted from having to make payments for as long as this insurance is maintained. "

Wouldn't the last sentence apply to us as our employees will be adequately covered by other accident insurance ?

Or is this not for the compensation fund ?

Nats

[Ivan]

Hi Natasha

I am in the Workmen's Compensation Business , there is no other insurance that can replace COIDA, the clause is referring to other privatised companies that are able to provide workmen's compensation to employers .

[NatashaM]

oh ok - Thanks

[Dave A]

Also, any other employer whose employees are adequately covered by other accident insurance are exempted from having to make payments for as long as this insurance is maintained. "

Wouldn't the last sentence apply to us as our employees will be adequately covered by other accident insurance ?

Or is this not for the compensation fund ?

This exemption is to provide for FEM, which predated the introduction of the Workmen's Compensation Act and accordingly has a special dispensation - and is available as an option to the building industry only.
(A pretty good option BTW).

[Ivan]

This exemption is to provide for FEM, which predated the introduction of the Workmen's Compensation Act and accordingly has a special dispensation - and is available as an option to the building industry only.
(A pretty good option BTW).

That's correct Dave, I work for FEM.

Not forgetting Rand Mutual that covers the mining industry as well.

However all new registrations has to be done through the Compensation Fund and only after a period of one year being with the Fund may they transfer to either of the 2 organisations.

Don't hesitate to contact me should you require assistance .