COID Registration (timeframe - 7Days)
COID REGISTRATION (Workman’s Compensation)
LETTER OF GOOD STANDING
What is COID Registration?
COID Registration ensures that if an employee is injured, disabled, or falls ill while performing work duties, they are covered by the Compensation Fund. As an employer, it is mandatory to register with the Department of Employment and Labour.
Benefits of COID Registration:
Legal compliance for your business
Protection against expensive injury claims
Employees receive medical care and compensation
Access to a Letter of Good Standing
All Business owners who employ one or more employees full -time/Part time must register with the Compensation Fund.Before you can get a Letter of Good Standing you need to be COID Registered.
COID is to provide compensation to cover employees who get injured on duty, disabled, or even death.
COID REGISTRATION REQUIMENT
Company Registration Documents.
Certified copies of the ID’s of the directors of the company.
Before you can get a Letter of Good Standing from the Compensation Fund, you need to be ‘COID Registered.