Yes. Unless notice of the injury is given to your employer within 21 days, you are not entitled to receive compensation. If notice is not given within 120 days, you will forfeit the right to receive any benefits at all.
There are circumstances in which the notice period does not begin to run until you know or should have known that your disability was caused by a work injury or disease. If your employer or its insurance company tells you that you are not entitled to receive benefits because you gave late notice, contact an attorney who may be able to help.