Workers Compensation Payroll - When payroll means more than you think!

What constitutes workers compensation payroll? Well it certainly includes more than you think!

In the strange world of workers compensation the term "payroll" means a lot more than the normal person would think. In fact the word "payroll" is not really used by workers comp professionals, rather, the term "remuneration" is the more accurate word used.

Remuneration means to give, pay for service, to make up for or to compensate. This leaves the door open for interruption of the meaning and when it comes to the world of workers compensation, interpretation is never a good thing. So the work comp governing authorities have defined just what constitutes remuneration and there are a lot of "non-money" items included.

Would you believe:

payments or compensation to workers for use of their own tools is payroll?

that commissions, profit sharing plans and holiday pay would be included?

the rental value of housing provided for use by workers is included as payroll?

and the list goes on....

Did you know:

that uniform allowances are not considered payroll?

that certain employer supplied perks like use of company vehicles and incentive travel are not included?

like wise the list of excluded items goes on and on....

So, what's this all mean to an employer? Well, it means the workers comp pitfalls continue to exist around every corner. If as an employer, you thought your workers compensation payroll was just that, money you paid your workers, you may just be very surprised when the insurance company auditor reviews your books and adjusts your workers compensation premium.

For more information on workers comp payroll and remuneration be sure to visit this page provided free for your use by Workers Compensation Consultants.

Here's the link: Workers Compensation Payroll and Remuneration