Online COIDA Registration In South Africa (2021)

We will provide the step-by-step process here and help you get started with COIDA registration in the shortest time possible. Get started now

Online COIDA Registration In South Africa (2021)

We will provide the step-by-step process here and help you get started with COIDA registration in the shortest time possible. Get started now

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COIDA Registration (step-by-step).

Coida registration in south africa in 2021

Table of Contents

Congratulations your business is growing! You are employing more and more people. As an employer, there are some things you have to be aware of especially as your business grows. 

One of those things is COIDA. 

What is COIDA?

What is coida?

Well COIDA is an abbreviation for Compensation For Occupational Injuries and Diseases Act. This is a South African government insurance fund.

It helps out in the event there’s a work-related injury or disease. The COID fund compensates the employees or their dependents in the event of the employee’s death. 

You should note, however, that not all businesses contribute towards this fund.

For example, government agencies and mining industries have their own type of insurance. Virtually all businesses have to register for COID. 

Why Should I Register my business for COID?

There are a number of reasons why you should register for COID. Below are 4 most important:

  1. COIDA Registration is a requirement for ALL employers. The “Compensation for Occupational Injuries and Diseases Act” or “COID Act” states that all South African persons (individuals/companies) who employ one or more employees, in connection with their business/farming activities, organization/association/trust are under the scrutiny of the COID Act.
  2. It’s an insurance cover. Most businesses are not able to handle an unfortunate accident or disease outbreak. The expenses can be too high to cover and this can cripple the business. Employees are covered for reasonable medical aid expenses arising out of an injury on duty. This compensation is payable for a period of two (2) years or longer if further medical treatment is needed.
  3. COIDA Registration is a requirement for most South African tender applications.  
  4. The fund Protects the employers from civil plans that are made by the employees.

When do you need to register for COIDA?

You may be asking yourself, when do I need to register for COIDA? Well, within the first 7 days of officially hiring your first employee.

You register annually. It is valid from the 1st of April to the 31st of March the following year. You’ll need to renew again. 

Requirements for COIDA Registration.

So you have hired your first employee, and you want to register for COIDA. What documents do you need? 

  1. Company Registration Documents 
  2. Certified copies of the ID’s of the directors of the company / CC
  3. COID Application form (which we email to you upon submitting our online application form)

What is the Process for COID Registration?

1. COID Offices

We visit Compensation Fund’s offices on your behalf to complete the correct forms, wait in the lines, meet with an official and make sure that your application is successful.

2. Start using your COID Registration Number.

Our COID Department will ensure your COID Registration is successful in the quickest possible time frame. The COID Registration Number is made available via email: enabling you to start trading immediately.

3. Notice of Assessment

Upon successful COID Registration, you will receive a “Notice of Assessment” from the Compensation Fund. It is payable directly into the account of the Compensation Fund. This assessment is based on your returns and earnings. It’s also based on your estimated wage bill for the entire year. This payment will cover your business for Workman’s Compensation. You will then be able to apply for your Letter of Good Standing.

4. Letter of Good Standing.

You apply for a Letter of Good standing at the Compensation Fund, once your business is COID registered. Also, you pay your “Notice of Assessment” first. The letter of good standing confirms that you registered for COID and your payments are up to date. 

 

How long does it take for the COID application to be approved?

 Usually within 5 working days. By then you should have your registration number and good to go. 

 

Get started now.

Get in touch with us! We will make sure your application is seamless. Hustle-free for you. As long as your documents are in order, your application will be approved in the shortest time possible. 

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About Murrayfield Consulting

We have served over 5000 clients in the period of 7 years and we are still growing every day making a new business successful both online and offline.

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