What is the Purpose of a Letter of Good Standing?
A letter of good standing is a document that is issued by the compensation commissioner. It is an official statement of a business' ability to meet with the various requirements of the act. What is the purpose of this letter? The letter of good standing is to ensure authorisation of claims from employees against the Compensation Fund. The fund has been set up to protect employees from the negative impact of occupational illness, injury and death. To be part of this fund, your business must pay an annual assessment fee and have a valid letter of good standing.
In order to receive this letter, you must register with the Compensation Fund and have submitted all earnings statements to the fund for perusal. You can expect for your business to be fully assessed and you will be requested to ensure that all outstanding debt, as per the act, is settled before your letter can be provided.
At MAKROSAFE, we assist businesses to meet with the requirements of the act and obtain their required letter. We do this by ensuring that the business return of earnings is submitted and that the company is assessed professionally. To add onto this, we will also ensure that you are aware of, and do settle all outstanding amounts. Once your letter has been granted, you can expect for your company's certification to last for one year.
There are options to consider when applying for this letter. You can apply for one on a payment plan, where you can pay off the assessment fee over 2, 3 or 6 months. This is ideal for companies that do not have enough cash flow available or would prefer to pay monthly instalments over a lump sum. Those who wish to pay the assessment fee off must make an initial payment of 20% that is paid at the same time of application.
You can expect for our team to be professional, efficient and absolutely dedicated while we work hard to get your letter of good standing prepared for you. If you would like to know more about the procedure, we recommend that you chat to one of our consultants. Ensuring that your business is compliant is one of our main aims at MAKROSAFE. In addition to this, we want to protect your employees against illness and injury. Waste no more time ' contact us via email or telephone to discuss your application for a letter of good standing and what it means for your business.
Comments (15)
We are in the process of starting a new smme construction cc and need a letter of good standing before we can start tendering .There are no staff as yet so how do we go about registering all the uif and get a logs document and who and what and how much and to who must we make payment. Thank you FLORIS on behalf of wuma civils
2016-07-11 13:55:33So what was the answer to your question here as I didn't see anyone answer it?? If you a startup can you get a letter of good standing and how much is it?
2016-11-03 21:13:21I am a Sole Trader Individual who is both owner and worker with no other staff. Do I still need a letter of good standing?
2016-08-12 14:03:01we have applied a letter of good standing last year but even now , nothing have happened.what steps can i follow.
2021-03-04 09:10:34Request of letter of good standing
2018-10-25 14:41:02I have a small stand I want to know how can I get a letter from the department of labour stating that I could still sell
2020-04-08 19:48:47We started a company Kawe Civils (Pty) Ltd I'm starting to tender I haven't got a job because I must have a letter of good standing, we have registered for compensation fund at C-filing bout no direction to get Letter of good standing. Thank you on be half of Kawe Civils.
2019-01-10 15:07:26Good day, I need a letter of good standing urgently
2021-09-08 14:34:11I'll like to get a REGISTRATION from for a letter of good standing
2019-11-14 07:18:23Employment matters are between employer and employee.How does marriages interact with labour disputes or cases and charges between employer and employee.Thanks
2019-02-20 08:03:37I need a Letter of good standing. Last year i got it from the ROE Menu. Company Name : Kem-Knit Contract No.990000030120 Year 2019 We transferred via efts R 42,054.19 on the 02/09/2020
2020-11-20 09:47:45Hi there everyone can I please have package to run business/company registered 0783239040 I'm from northern cape.
2021-04-20 09:20:01I have a sub contract company, i find it difficult to acquire jobs as i need to get a certificate of good standing... how do i go about. Thanks
2019-05-07 11:05:07Mine expired struggling to create Labour Dept account.
2021-05-05 17:55:42I need a letter of good standing urgently
2020-08-03 19:24:41Can you please help me. I need the letter of good standing urgently please...
2021-05-19 08:25:28