A Guide to the Compensation Fund
When you have people working for you, it's not only important to ensure their safety at work, but also to make provisions should an accident or injury occur during the course of their duties. Registering with the Compensation Fund will protect you and your employees in this regard.
The Compensation Fund was set up to protect the interests of employers and employees should a worker be injured, disabled or killed in a work-related accident. This also applies to an employee who is proved to have contracted a disease during the course of his/her work.
No matter how small or what type of business you own, you are required to register and pay annual fees to the Compensation Fund. Besides your legal obligation, a worker injured or disabled at work can be a major (and often unforeseen) expense, but if you belong to the Fund, it will provide the cover and avoid and potential legal action taken against you.
Below is a document that will guide you through the various steps you need to follow to:
Register with the Compensation Fund
Pay your annual assessment
Report an occupational accident or disease to the Fund
It's really not as hard as you might think and is worth the time and effort. Download the Department of Labour's Basic Guide to Reporting Occupational Injuries and Diseases here.
For more labour news, legislation, policy documents or forms mentioned in the article, visit the Department of Labour's website.