Hefty penalties will be imposed by the Compensation Commissioner for companies that miss the 31 March Return of Earnings deadline. "The penalty could be up to 10% of a company's wage bill," said Phillip de Wet, managing director of COID Support. Because companies don't have the correct systems in place to deal with the Compensation Commissioner, not only are they not compliant and legal, they also leave money on the table that they are legally entitled to. A company can claim up to 75% of its wages bill for employees who are injured on duty from the Commissioner.
Also, many companies are overpaying the Commissioner by 20% more than their legal statutory dues. "The reason that companies slip up in this area is because it can be quite complicated to deal with the Commissioner if effective systems and procedures aren't in place," said, de Wet. COID Support is keeping more than 100 clients legal and compliant with the Commissioner, whilst ensuring that they save money on their injured on duty bill.
Contact Information:Phillip de WetCOID Support086 111 3474phillip@coid.co.zawww.coid.co.za