WHAT DOES THE RETURN OF EARNINGS WITH THE WCA MEAN?
The purpose of this return of earnings process is to submit the annual return of earnings (W.As.8 form) of the employer with Workmen's Compensation and so comply with legislation requirements. The annual return of earnings submission is based on the annual salary information of the employer and this information must be submitted within the annual deadline of 30 April.
Following this submission, the Compensation Commissioner will assess the employer's earnings, according to their industry type and issue the employer with a notice of assessment that determines the monies the employer must contribute to the Compensation Fund for that year. This process is conducted on behalf of the employer.
WHO NEEDS TO DO THIS?
This return of earnings process is intended for all companies who need to submit their annual return of earnings with Workmen's Compensation.
WHY IS THE RETURN OF EARNINGS SUBMISSION IMPORTANT?
This return of earnings process is important because legislation requires all employers to submit an annual return of earnings with Workmen's Compensation before 30 April each year. In this way, an organisation is assessed and makes its annual contribution to the Compensation Fund. These contributions by employers make funds available to pay compensation to an organisation and its employees in the event of any employees becoming injured or worse during the course of their duties.
This return of earnings process is conducted on behalf of the user who may not understand the process or have the resources to conduct the process and provides evidence to an inspector that an organisation has submitted its annual return of earnings with Workmen's Compensation and is therefore complying with legislation in this respect.
WHAT DOCUMENTATION IS REQUIRED FOR THE RETURN OF EARNINGS SUBMISSION?
This return of earnings process requires the following documentation to be submitted (and received):
Completed W.As.8 Return of Earnings form
Returned W.As.6 Notice of Assessment form
Power of Attorney letter (for SafetyWallet authorisation to act on behalf of the employer)
COSTING
This return of earnings process is costed per return of earnings returned which means the displayed cost is per submission of earnings returned. For example, if a user requires 3 (three) submissions, the order should be made for the total number of return of earnings submissions:
Return of earnings submissions requires 3(three) to be submitted = 3.
Cost of order = 3 x cost per return of earnings submission (add this product 3 times in the SafetyShop).
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- 6:42pm on Thursday 25th July 2024