By Tinus Boshoff
Employers who employ 1 or more part- or full-time employees must register with the Compensation Fund and pay annual assessment fees. Fees may increase or decrease according to an employer’s accident costs.
Employers with low costs may qualify for assessment fee rebates. Section 85 (3) of the COID Act refers to the matter; “If the accident record of an employer during a particular period is in the opinion of the Director-General more favourable than those of employers in comparable businesses, the Director-General may give such employer a rebate on any assessment paid or payable by him”.
This means that the Compensation Commissioner may refund employers with a merit rebate if:
- employers actively prevent accidents;
- employers show favourable costs over a 3-year cycle; and
- there are excess funds.
According to notice R.819 of 2015 (G.G.39177 – 08 September 2015); final notice is given to the listed qualifying employers to claim their 2001/2003 and 2004/2006 merit rebates by 31 January 2016.
An amount of R67 million in rebates is listed in the above mentioned notice.
All merit rebate not claimed after 31January 2016 will be transferred to the Compensation Fund Reserves.
For more information please contact Tinus Boshoff at email@example.com or (012) 666 8284