2022 Updates for OID Workman’s Comp

Employers can start getting ready to complete their Return of Earnings (ROE) or W.As.8 as the deadline for submission is approaching. 

Return of Earnings or ROE, is a declaration to the Compensation Fund of your employees’ earnings for the past year, which coincides with the tax year. The dates for this season ran from 1 March 2021 to 28 February 2022. Alongside the declaration, employers must also provide their projected earnings for the following year. The next season will run from the1 March 2022 to 28 February 2023.

Although the official deadline is 31 March, this has been extended to 31 May 2022 for this year only. In more good news, it has been confirmed that the digital application process for employers will be available from 1 April to 31 May 2022. 

Additionally, the Compensation Fund has published a new annual earnings threshold of R529 264 per annum for the 2022/2023 ROE. As our system is always keeping you compliant, you do not need to do anything as we have already updated our system to accommodate this change. 

At SimplePay, we always aim to make things as easy as possible and, as such, you can download a report from our system that will help you complete your W.As.8. by simply going to Submissions > OID (Workman’s Comp) Return.

More information about OID and the Compensation Fund can be found on our help site

Please feel free to contact support@simplepay.co.za if you need any assistance.

Team SimplePay