Workplace Health & Compensation: What Small Business Owners Need to Know
Workplace injuries can happen anywhere, and as a small business owner, you need to protect your employees and stay compliant with the Compensation Fund. Here’s what you should know:
1️⃣ Register with the Compensation Fund – If you have employees, you must register and pay annual assessment fees to cover workplace injuries.
2️⃣ Report Injuries on Time – If an employee gets injured on duty, report it within 7 days to avoid penalties and delays in compensation.
3️⃣ Provide a Safe Workplace – Prevent accidents by following workplace safety regulations and training employees on risk management.
4️⃣ IOD Benefits for Employees – If injured, employees get medical care, temporary disability pay, and long-term compensation if needed.
5️⃣ Penalties for Non-Compliance – Failure to register, report injuries, or pay contributions can result in fines and legal action.
🔹 Stay compliant, protect your team, and avoid costly mistakes! If you need help with IOD claims or compliance,