Why do you need Workman’s Compensation? Imagine this: you’ve employed your first employee. A later, your employee walks up the staircase leading to his office, eyes fixed into his cellphone screen, he trips and ends up with a serious spine injury.
As the injury occurred when your employer was on duty, you’ll probably have to pick up the medical bill, despite it being a little under R100 000.
You probably can’t dish out that kind of money and your employee needs to have the medical attention he deserves, which is exactly why the Department of Labour created Workman’s Compensation.
Workman’s Compensation is a type of insurance, instituted by the The Compensation for Occupational Injuries and Diseases Act. It protects employers from dooming civil claims and enables both casual and full-time employees to claim compensation directly from the Fund for work-related injuries and disability.
It even enables the dependents of an employee to claim compensation in the case of a work-related death.
You pay a yearly fee, determined as a percentage of the amount your business spends on salaries, and in turn the fund will help cover all your employees’ medical bills or compensation in the case of death.
However you need to register first. It can take up to months if you sign up via the Labour Department. That’s why using a service provider like Company Partners, is a great idea. Company Partners will assist you in getting registered in under three weeks.
If you’d like to get your Workman’s Compensation registration in order in record time, click right HERE
You can also opt for the COID Package, which includes a Letter of Good standing, by clicking HERE
You can check out the Labour Department’s basic guide to the Act, by clicking HERE
Or Contact Company Partners today!