Last Updated on September 21, 2023 by ufiling
COIDA stands for the Compensation for Occupational Injuries and Diseases Act. It is a South African law that provides for compensation to employees who sustain work-related injuries or contract occupational diseases during the course of their employment.
COIDA is funded through a system of levies paid by employers. Employers are required by law to register with the Compensation Fund and pay annual assessments based on the earnings and risk profile of their workforce. The Compensation Fund is a public entity responsible for administering COIDA and managing the compensation system.
The levies collected from employers go into the Compensation Fund, which is used to provide medical aid, disability benefits, and other compensation to employees who suffer occupational injuries or diseases. The fund also covers funeral expenses and dependent benefits in the unfortunate event of a work-related fatality.
It’s essential to note that funding and operational aspects of government programs can change over time.