The fund has been established in order to provide compensation for any harm, injury or disability that may have been caused by any occupational injury or disease sustained or contracted by any employee/s while performing their duties in accordance with their employment, or a death resulting from any injury or disease that may have occurred.
All payments are being made by the Compensation Commissioner, which limits the liability of the company in respect of the occupational injuries or diseases that is contracted. All payments are made on a no-fault basis.
The fund ensures that employees get reasonable compensation or income during the period that they are unable to perform their duties due to an injury that has occurred while on duty.
The Compensation provide benefits in three categories of claims:
1. Temporary disability – when the injury or disease causes the employee to be unable to perform their duties on a temporary basis the fund will make payments up to a maximum of 24-month period.
2. Permanent disability – a lump sum will be paid if disability is 30 % or less, otherwise normal Pension payment is made.
3. Dependents of deceased employees – dependents will receive compensation in relation to the stipulations of the legislation.
In accordance with the legislation ALL companies have the following obligations:
· Register with the Commissioner upon commencement of trading
· Submit annual wage returns (ROE’s) annually by the communicated period
· Pay assessments which was provided upon receive of indicated invoice
· Reporting of all accidents, injuries, occupational diseases (in the prescribed time frame)
· Display and provide your Letter of Good Standing to suppliers, contractors, etc.
