Workers Compensation Audit tips

Lloyd S. Berkett Insurance Agency, Inc. TEMPLE TOPICS – NEWSLETTER Work Comp. Audit Tips 1) Payroll – Remuneration As used in this Plan, payroll and remuneration are synonymous and mean the monetary value at which service is recompensed. Except as provided herein, remuneration includes gross wages; salaries; commissions; bonuses; vacation; holiday and sick pay; overtime payments; the market value of gifts; and all substitutes for money earned during the policy period by employees and officers of the insured and any other persons for whom voluntary coverage is provided under the policy Overtime Remuneration Overtime remuneration is that portion of the total remuneration which is 2) derived from the application of an increase above and in addition to the regular rate of remuneration (or additional pay for hours not worked but allowed in lieu of such an increase rate), because of time worked on holidays, Saturdays or Sundays or because of the number of hours worked in any one week or day beyond the standard for the industry, or because of participation by regularly scheduled league games. Overtime remuneration does not include: extra pay for swing, graveyard shifts, for working certain hours on the clock or bonus pay figured on volume without regard to hours worked. Overtime remuneration shall be included in the payroll except as follows:3) If the employer’s books and records are maintained so as to show separately by employee, a) and ...