STRESS FREE RETURN OF EARNINGS
Annual Return of Earnings for COIDA Letter of Good Standing R599
Stress free return of earnings!
Let us take care of your annual return of earnings. We will simplify the process and you will get your ROE done hassle free. Your Letter of Good Standing is just around the corner!
Employers registered with the Commissioner are required to submit an annual return of earnings of employees. We will assist you with ROE (return of earnings), every year and remind you when it is due. Return of Earnings renewal are due on the 30th of April.
Based on the monthly salaries that your employees earn as well as the risk factor associated with your business is what determines your annual fee. The higher the risk of injury, the greater the assesment rate.
Once you are assessed, you become liable to pay the assessed amount in order for your Letter of Good Standing to be released to you. Please note that our fee EXCLUDES your assesment fee.
In order to be correctly assessed, the Compensation Fund requires:
- The correct nature of your business. If you are incorrectly classified, you may be inserted into a category that is of higher risk and pay a higher assessment “rate”.
- The correct value of the wages and salaries you pay your staff, management and directors.
We will assist you with the above.
Once you have been assessed and the fee to COID has been paid, you are automatically in Good Standing.