Workers' comp premiums are set based on your industry classification code and how much it costs to run payroll. That means companies in high-risk industries will pay more for workers' comp. What is the workers’ compensation claim process? The workers’ compensation process includes the steps em...
Statutory employees are in a worker classification that is between employees and independent contractors. Statutory employers are companies that hire contractors and then become liable for workers’ compensation coverage if the contractor’s employer fails to provide it. While the titles are very similar...
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The wage compensation per pay period is calculated based on how many hours an employee worked and the pay rate of the work. Employers are required to pay hourly workers as per the federal or state minimum wage rate. The wage is variable, as it can fluctuate from day to day based on ind...
What is an SOC code? Standard Occupational Classification (SOC) is a statistical standard that federal agencies use to classify workers into job-related categories. The ultimate purpose of which is to collect, calculate and disseminate data. The Bureau of Labor and Statistics uses SOC codes in ...
Many believe that worker's compensation is a modern or industrial-era concept, but that can not be further from the truth. We may find one of the first examples of a workers' compensation scheme in 2050 B.C. Under theSumerian Law, there were strict regulations regarding worker's compensatio...
If employee misclassification is causing tax fraud, workers can anonymously report their employers tothe IRS by filing Form 3949-A. If workers would like the IRS to make a determination about their worker status, they can file the non-anonymous Form SS-8. ...
Workers’ Compensation Laws Environmental-related regulatory compliance examples Atomic Energy Act (AEA) Beaches Environmental Assessment and Coastal Health (BEACH) Act Chemical Safety Information, Site Security and Fuels Regulatory Relief Act Clean Air Act (CAA) ...
An S corporation is an optimal classification for small businesses that have low startup costs and are looking to remain small. Here's what else you need to know.
It involves carefully planning how work is allocated, performed, and managed to create efficient and effective job roles. There are four main components of designing a job—Tasks, Motivation, Resource allocation, and Compensation system. These components are carefully organized and adjusted to optimize...