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  • Writer's pictureDebbie Bullivant

Navigating COID ROE: A Guide for Employers

Are you gearing up to submit your COID (Compensation for Occupational Injuries and Diseases)  Return of Earnings (ROE)? If you're scratching your head about what this all means, let's break it down.

What is COID Cover? 

Like a safety net, COID cover is there to catch employees if they fall... quite literally! It's a fund that helps workers who get hurt or sick because of their job. It pays for their medical costs and gives them money while they recover. And for you, the boss, it means you do not have to pay all these bills directly.

It is a mandatory, state-managed insurance pool that helps protect both employees and employers. For employees, it ensures they receive medical care and financial compensation for lost income due to work-related injuries or illnesses. For employers, it shields them from direct financial liability by covering these costs through the fund rather than through private litigation. 

 What is needed: 

  • Total earnings paid to all employees, including directors, during the specified period. Ensure you’ve noted what you've paid every worker, from the big boss to the part-timer. 

  • If anything's changed in your business, like your address or what your company does, you will need to provide the information. 

  • Know Your Dates: You’ll use the payroll you paid your employees from March last year to February this year, and you’ll need to estimate (forecast) what you'll pay them next year, too. 

When do I need to submit?

The Submission deadline is typically by the end of May each year, but it's essential to check for changes to the current year's deadline. 

Submissions can be done online through the Compensation Fund's e-services portal. 

The COID letter of good standing covers from May of the current year to April of the following year and becomes active after the Compensation Fund has processed the premium payment. 

Running behind could cost you. If you miss the boat after your letter of good standing expires on 30 April, you might not be able to get new contracts, and SARS might charge you extra money. Plus, the bills are on you if any of your employees have accidents.

Even if your business is more of a small fish than a big whale, there's a minimum amount you have to pay for this insurance. This keeps things fair and square for everyone. 

COID cover is about looking out for your team and keeping your business safe from unexpected bills. Get ahead of the game, keep your records neat, and pay that premium. Trust us, it's worth it. 

Need a hand with all of this? Just shout, and we'll be right there to help you get everything sorted! 


Bullivant Accounting & Tax Solutions 



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