After an employer has completed the Workman’s Compensation Fund registration and paid the annual assessment fees, the employer can request a COIDA Letter of Good Standing(also known as Coida certificate) that confirms that an employer is in COIDA good standing with the Compensation Commissioner. A Letter of Good Standing from Department of Labour (LOGS) is usually mandatory for tenders, government business contracts or renewals, and general contractor work.
Do you need a Letter of Good Standing from the Department of Labour?
Get your company COIDA Letter of Good Standing registration online with these great inclusions:
COIDA Letter of Good Standing
COIDA Letter of Good Standing
Main Requirements: (1) COIDA Registered (2) COIDA Return of Earnings up to date
*Working days are our typical turnaround time to facilitate COIDA Registration and/or a Letter of Good Standing for COID. Kindly note our Letter of Good Standing price, does not include COIDA assessment fees.
Do you need a COIDA Certificate (letter of good standing) to apply for a Contract or Tender? Our COID Packages can assist with getting your Company Tender ready… with up to 25% discount.
COIDA Package
R
2290
R3770
COIDA Registration
COIDA Letter of Good Standing
Return of Earnings Submission
Main Requirements: (1) ID Number / Passport; (2) Company Registration
Timeframe: 2-Weeks
Free Optional Services Included: BEE Affidavit, Bank Account, Custom Tender Search and Website
Elite Tender Package
R
4990
R8110
Pty Company
Tax Nr & Clearance Certificate
Share Certificates
Beneficial Ownership at CIPC
SARS Registered Representative Update
CSD Registration
COIDA Registration
COIDA Letter of Good Standing
Timeframe: 2-Weeks
Free Optional Services Included: BEE Affidavit, Bank Account, Custom Tender Search and Website
Company Partners assists South Africa’s Entrepreneurs to become registered, empowered, and grow into sustainable businesses. Specialising in company registration and compliance since 2006, we have expanded our expertise to include accounting, payroll and website design.
We begin with a free consultation, offering tailored support to align with your business objectives. Our 120 compliance services include Shelf Companies, COIDA, Imports/Exports, Business Plans, VAT, and others.
We are dedicated to providing the tools and guidance necessary for businesses to develop and thrive over the long term.
Free Consultation with a Compliance Specialist to assess exactly what you need.
Over 120 Services
Full-Scale Compliance Services for all industries, as well as Monthly Tax, Accounting and Payroll Packages.
Startup Business Kit
Free Training for SA’s Entrepreneurs through our free start-up videos and paid business coaching.
Online Tracking
Secure Online Tracking System for all your Company Compliance (free).
Money Back
If we cannot assist you, you are guaranteed your money back.
What our Clients say!
4,5 out of 5 from 322 Google Reviews
4.8/5
“Letter of Good Standing”
Great service and was faster than I thought. Now I can do my business.
Ntsikelelo Myesi Myesi Solutions (Pty) Ltd
"Letter of Good Standing" Exceptional and hassle free, great support from Dominque and constant communication. Turn around times as stated or earlier.
Jt Moorosi Solar Prominence Energy (Pty) Ltd
"Letter of Good Standing” Service I got from Company Partners was perfect, they where able to help me while I am busy with my other things.
Thabang Mphosi TD Gas Installations (Pty) Ltd
Over 1000 testimonials and counting. Click here to view more
How to get a COIDA Letter of Good Standing fast in SA?
If you’re wondering how to get a Compensation Letter of Good Standing registration online and fast, you’ve come to the right page.
Here we’ll show you how to get a Letter of Good Standing within 48 hours using a fast-tracked, online service.
Our fast-tracked COID service helps you get the documentation you need ASAP. Below we’ll show you how it works, what it costs and what the requirements are so you can get your Letter of Good Standing in 2 days.
We’ll also answer a few frequently asked questions on COID and the Letter of Good Standing Department of Labour process and we’ll show you what to do if you still need to register for COID.
In order to get a Letter of Good Standing registration online quickly, you need to be registered at the National Compensation Fund (COID) and up-to-date in all your payments to them.
When your COID payments aren’t up-to-date, your COIDA letter of good standing request will be declined and you will not receive your letter of goodstanding.
In order to register for COID you will need a valid South African ID, a Company Registration document, a COID Registration form and a proof of payment of your registration fees.
You can read below how the entire process works.
*If you’d like to use our COID Package or COID Registration service, you will need a Power of Attorney document too – this allows your COID expert to do the paperwork for you.
Step 1: Register with the Workman’s Compensation Fund (COID).
How: At the Department of Labour or online using our fast-tracked service.
Timeframe via the Department of Labour: It may take 3 months or more, depending on their workload.
Timeframe via our fast-tracked services: 5 days *
* 5 Working days is our typical turnaround time to facilitate COID Registration.
What you need:
A valid South African ID
Your Company Registration document
A filled-out COID Registration form
Proof of you paid your registration fees
A Power of Attorney document if you use our services
Step 2: Submit your Returns of Earnings.
A Return of Earnings is a document that demonstrates your total wage/salary expenses for the last financial year. It’s usually due every year on the 30th of April.
If it’s the first time you’re registering for COID, the Return of Earnings will be included in step 1.
The Workman’s Compensation Fund determines the fee that you need to pay to them as a percentage of your annual wage/salary expenses.
In order for accurate calculations, you need to submit your employee expenses for the last financial year. After the assessment, the Department of Labour will send you a Notice of Assessment (NOA) with the amount you need to pay to COID.
Timeframe: Once you’ve submitted your Return of Earnings, it usually takes 3 days to send you your Notice of assessment.
What you need:
Fill out our COID Registration form (that includes a Return of Earnings sections)
OR renew your Return of Earning on the 30th of April
Step 3: Pay the NOA amount to the Workman’s Compensation Fund.
Once you’ve made your due payment to the Workman’s Compensation Fund, the letter of good standing registration online will be completed and you’ll receive a Letter of Good Standing.
You can pay the annual or the monthly sum, however, your COIDA Letter of Good Standing will correspond, being valid either for a year or only month-by-month.
In a sense, the Workman’s Compensation is a bit like nationwide workplace insurance.
It’s a national fund that helps businesses pay for the remunerations or medical bills of employees who suffer work-related injuries or harm.
The Fund will only cover your employees if all your due payments are up-to-date.
What is a Letter of Good Standing and why do you need to be registered for COID to get a Letter of Good Standing?
A Letter of Good Standing is a letter that the Workman’s Compensation Fund issues as proof that your payments to them are up-to-date and that you are in “good standing” with the Fund.
This implies both that you are registered with the Fund (this is known as COID registration) and that you are up-to-date with all your due payments to them.
This is important because the Fund only covers your business if ALL your payments are up-to-date.
In short, a Letter of Good Standing proves that you are registered with the Fund and covered for financial support in the case of work-related harm to your employees.
Is COID Registration compulsory?
Yes, it usually is. According to South African legislation, every employer needs to register for the Workman’s Compensation Fund (COID). There are a few exceptions.
Why is the Workman’s Compensation Fund important to have?
Let’s say one of your employees breaks a finger while doing a work-related activity.
It’s your responsibility to cover the medical bills, but it’s also your responsibility to pay your employees salary while they are unable to work as normal, and if there’s any permanent damage, it’ll be your responsibility to reimburse your employee for any loss in potential earnings – forever.
That’s 3 tiers of expenses to one.
Perhaps nothing ever happens at work, however, the small fee associated with the Workman’s Compensation Fund is worth the financial security.
One significant accident, or a few smaller ones, can permanently set back your business’s finances.
How does the Workman’s Compensation Fund important to have?
The Workman’s Compensation Fund demands a small fee, and in return, they offer financial support in work-related cases.
It’s a small fee to remedy the complete financial vulnerability of a South African business when something does go wrong.
Without a Letter of Good Standing, potential clients have no proof that your employees are insured in the case of work-related accidents or injuries.
You can pay your fees annually or monthly. However monthly payments imply that your Letter of Good Standing will be renewable every month too.
Why is COID Registration important for Tenders and Contracts?
Potential clients want to know your employees are covered in the case of a work-related accident because they do not want to take on the risk.
When you are registered with COID, and when your payments are up-to-date, clients can rest assured knowing your employees are covered by the Compensation Fund. This means they won’t have to take responsibility when they, for example, subcontract you and something happens to one of your employees on their premises.
A COIDA Letter of Good Standing is an essential document for businesses operating in South Africa. It demonstrates that your company is registered with the Compensation Fund and that you are up-to-date with your contributions.
To request a letter of good standing, you can follow these steps:
1. Ensure COID Registration:
Verify that your company is duly registered with COIDA. If not, initiate the registration process promptly. You can register for COIDA online or through the Department of Labour.
2. Maintain Up-to-Date Contributions:
Make consistent and timely contributions to the Workman’s Compensation Fund. You can make payments online, through your bank, or by postal order.
3. COIDA Certificate Application:
Once your registration and contributions are in order, you can request a COIDA Letter of Good Standing from Department of Labour through the COIDA website.
Simplify the Letter of Good Standing Workmans Compensation Process with Company Partners:
The process of obtaining a COIDA Letter of Good Standing can be time-consuming and complex. Company Partners offers a streamlined service to help you secure your letter quickly and efficiently. Our team of experts will handle all the paperwork and ensure that your application is processed smoothly.
Yes, your business needs to submit your Return of Earnings annually to ensure that COIDA can calculate your applicable fees. The calculation is based on your staff/workforce salaries and under which “industry classification” your business is.
Ensure you make an informed decision before you register for Workmens compensation and select the correct industry classification. To change it afterwards is an herculian task and can take years.
