COID Letter of Good standing

If you’re wondering how to get a Letter of Good Standing fast, you’ve come to the right page. Procon Business Consultants, one of the reliable accounting firms in Johannesburg, can help you achieve this with no hustles.  Here we’ll show you how to get a Letter of Good Standing using a fast-tracked, online service.

What is COID/COIDA?

COIDA stands for Compensation for Occupational Injuries and Diseases Act which is the governing legislation in South Africa which permits employees to obtain compensation for sickness, death or injuries that are work related.

When must you register?

It is required by law that all employers with one or more employees should register within a week from commencement of employment. Registration is done with the Compensation Commissioner as stipulated in the COID act of South Africa. If not yet registered, we can also assist you with the registration process.

Purpose of registering for COID

• To get cover in case of workplace related injuries.
• To get a letter of good standing which is a common requirement in applying for governement tenders and some contracts in the private sector.

What is a letter of good standing (LOGS)

This is an official statement/ document from the compensation commissioner of the ability of a business to meet the many requirements of the act. This letter ensures authorization of claims against the compensation fund from employees.

How to get a letter of good standing.

You can only get a letter of good standing after you have registered for COIDA. Once registered these are the steps to follow:

• Log into the department of labour website
• Click submit ROE under the user manual tab
• Click on the ROE menu and select “submit returns of earnings”
• Fill in the information required for the respective years of assessment.
• After completing the required information click submit return of earnings
• The department of labour will send you a notice of assessment (NOA) within 3 days of submitting your returns. You will be invoiced a certain amount which you must pay before a given due date.
• After paying the fee you can apply for you letter of good standing.

Whether you’re interested in renewal of your LOGS or Registration with the department of labour we at Procon Business Consultants can assist you with this. We are one of the efficient and reliable accounting firms in Johannesburg. Our clients enjoy the benefit of always being prepared and ready for any opportunity that may arise.