Your annual Compensation Fund work starts with the earnings records behind the return. Vatco helps reconcile those figures, prepare the agreed submission and review the assessment that follows, so you can understand the amount assessed, the payments recorded and any corrections or queries still outstanding.
Your requirements · A clear scope · Your next step
Build the relevant assessment-period earnings from detailed payroll.
Bring the earlier notice and the actual payroll records.
Separate the earnings calculation from the reason the account is questioned.
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| Cost item | Price or basis | What to allow for |
|---|---|---|
| Vatco return and assessment work | Quoted by assessment periods and payroll quality | The scope can include earnings preparation, notice review and the agreed reconciliation. |
| Official assessment | Calculated under the relevant earnings and business-rate rules | This is payable to the compensation issuer and is separate from professional preparation fees. |
| Revision, audit or classification work | Separately quoted against the actual query | Missing periods, contested descriptions and additional evidence can require a different engagement. |
| Payment reconciliation and letter assistance | Quoted if included or needed afterwards | A paid bank transaction, allocated account amount and issued letter are separate outcomes. |
The service fee, any amount payable to the authority and additional work are separate. The table identifies the scope to confirm before you proceed.
The resulting working file should explain how the submitted total was reached, including adjustments and the source records used, making later questions easier to answer consistently.
Begin with the detailed payroll for the assessment period, employee information and the employer's registered details.
Check that the reporting dates match the required period rather than automatically using the company's financial year.
Keep the underlying payroll reports, not just a manually entered annual total, so unusual movements can be traced.
Review joiners, leavers, adjustments and remuneration categories against the applicable earnings rules. The amount reported should not be copied without review from a different statutory return or a bank-payment total.
Payroll, accounting records and supporting declarations can help explain the figure, but each has a different purpose and may require reconciliation.
The employer should review and approve the prepared information before submission. Where records are incomplete, identify the gap and obtain supporting evidence instead of inventing an estimate simply to finish the form.
The Fund’s audit guidance lists payroll, relevant SARS and UIF evidence, financial statements and authority for a representative. Match the pack to the actual query.
Assessment amounts depend on the applicable earnings and the business classification or rate under the Fund's rules. A company that changes its actual operations should not assume its old description remains appropriate. Explain what the business does now, where employees work and whether the activities have changed since registration.
A classification review is not a request to select whichever description produces the lowest amount. The description must reflect the operation. Where a change is needed, it follows the appropriate process with supporting evidence. Keep that issue separate from a payroll correction: a correct earnings figure can still sit alongside an outdated business description, and vice versa.
After the return is submitted, retain its acknowledgement and the records supporting it. Review the assessment notice against the period, employer and information supplied.
Payments must use the appropriate official details and reference.
If a return or assessment needs correction, establish the proper revision or dispute route and check the applicable requirements promptly.
A query or correction request does not itself mean the amount has been changed. Track the official outcome and the updated account before treating the matter as resolved.
Annual reporting should start before the filing window becomes urgent. Keep employer details current, nominate the person responsible for payroll reconciliation and set a reminder to check the current official filing notice. The assessment period and submission deadline are different concepts; a deadline published for a previous year should not be carried forward without verification.
For your enquiry, list the periods needing attention and provide the latest assessment or statement available. Indicate whether payroll records are complete and whether you are seeking routine filing, historical catch-up, a correction or payment reconciliation. We can then define the work and information needed without quoting for an ordinary annual return when the actual issue is a multi-period account problem.
No. The earnings return supplies information used for assessment, while the resulting notice records the amount determined by the Fund. Both should be retained and checked. A completed submission is one milestone; reviewing the notice and reconciling payments are further steps in understanding the employer’s actual account position.
Use the detailed payroll as evidence, but check the period, employee records and applicable earnings treatment before declaring the total. Other payroll or tax reports may not map directly to the Fund’s requirements. The working file should explain any differences, rather than hiding adjustments inside one unsupported number.
Possible reasons include changed earnings, the period assessed, applicable rates, classification or other account items. Compare the current notice with the supporting return and prior records before reaching a conclusion. An unexpected amount should be investigated on evidence; it is not automatically proof of an error or a reason to ignore payment requirements.
Gather the assessment notice, payment proof and the latest account record. Check the payment reference and allocation before making a duplicate payment. The issue may require clarification with the Fund. A payment leaving your bank and the Fund recognising it against the correct employer account are separate events.
The Fund’s guidance states that the employer assessment must not be recovered from employees. It is different from statutory payroll deductions that have their own legal basis. If a payslip contains a WCA or COIDA deduction, have the payroll treatment reviewed instead of assuming the label makes it appropriate.
The work can be coordinated, but the missing periods and account position must be reviewed first. Returns, assessments, payments and letter requirements are connected steps with separate outcomes. We can define a combined scope while making clear that submission does not guarantee immediate letter issuance or erase historical liabilities.
Go deeper with guidance from the relevant authorities.
Information and employer responsibility behind the earnings declaration; current filing dates must be checked separately.
Open the resource OFFICIAL RESOURCEAssessment basis and the employer’s responsibility for the contribution.
Open the resource OFFICIAL RESOURCECurrent confirmation of outstanding-return, estimated-assessment and reporting concerns.
Open the resource OFFICIAL RESOURCERegistration, audit evidence, assessments and payment allocation requirements.
Open the resource OFFICIAL RESOURCEEntity registration documents, record changes and account follow-up are different processes.
Open the resourceShare your requirements with Vatco.
Confirm the scope, documents and fees before proceeding.
