labour.gov.za How To Pay the Compensation Fund : South African Department
Organization : The South African Department of Labour
Head Quarters: Pretoria
Facility : How To Pay the Compensation Fund
Website : https://www.labour.gov.za/
Labour How To Pay the Compensation Fund
** The Compensation for Occupational Injuries and Diseases Act requires employers to pay the Compensation Fund.
Related / Similar Service : Compensation Fund Bursary Programme 2021
Paying the Compensation Fund :
When employers want to pay, they must use the following steps :
Step 1 :
** Wait for the notice of assessment
** From April every year, the Compensation Fund sends employers notices of assessments that tell them how much to pay.
** This is done throughout the year, and it is not possible to predict when employers will receive their notices.
** If employers did not receive an assessment for a whole year, they must contact the Compensation Fund to find out if there is a problem.
Step 2: Pay
** The date that employers must pay is printed on the notice of assessment.
** It is usually within 30 days of when the notice was sent.
** There are 3 ways that employers can pay.
Paying by cheque
Employers can send a cheque to :
The Compensation Commissioner
PO Box 955
** If they send a cheque, employers must include the remittance advice part of the notice of assessment with the cheque.
** Employers should also write their reference numbers at the back of the cheque.
Paying by direct debit
** Employers can pay the amount directly into the Compensation Fund account at any ABSA branch.
** A deposit slip with the banking details of the Compensation Fund is attached to the notice of assessment that employers get.
** The deposit slip also has a unique deposit reference number printed on it.
** If employers use another deposit slip, they must make sure that they include the reference number on that slip.·
Paying by Internet banking
** When employers pay via internet banking the client code they must use are 0170151.
** The reference number is the number printed on the deposit slip they receive with the notice of assessment.
** The banking details of the Compensation Fund are also printed on the deposit slip.