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labour.gov.za How To Pay the Compensation Fund : South African Department

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Organization : The South African Department of Labour
Head Quarters: Pretoria
Facility : How To Pay the Compensation Fund

Website : http://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
Pretoria
0001.

** 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.

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