Remuneration - Workers Comp Term Of The Day

This is an archaic word at best. It is still used in Workers Comp vernacular as opposed to payroll, etc. Please note that this is a generic list and may not apply to all jurisdictions. Remuneration is not another Workers Comp term for payroll. After examining this list, one can see why the premium auditors want complete records.

Remuneration consists of gross wages, or other compensation, before withholding taxes or other deductions including:

• Retroactive wages or salaries
• Total cash received by employees for commissions and draws against commissions
• Bonuses including stock bonus plans
• Extra pay for overtime work (with some exceptions)
• Pay for holidays, vacations or periods of sickness
• Payment by an employer of amounts otherwise required by law to be paid by employees to statutory insurance or pension plans, such as the Federal Social Security Act
• Payment to employees on any basis other than time worked, such as piecework, profit sharing or incentive plans
• Payment or allowance for hand tools or power tools used by hand provided by employers either directly or through a third party and used in their work or operations for the insured
• The rental value of an apartment or a house provided for an employee based on comparable accommodations
• The value of lodging, other than an apartment or house, received by employees as part of their pay, to the extent shown in the insured’s records
• The value of meals received by employees as part of their pay to the extent shown in the insured’s records
• The value of store certificates, merchandise, credits or any other substitute for money received by employees as part of their pay
• Payments for salary reduction, employee savings plans, retirement or cafeteria plans that are made through employee authorized salary deductions from the employee’s gross pay
• Wages paid to employees as salary in conjunction with the Davis-Bacon Act or other prevailing wage laws
• Annuity plans
• Expense reimbursements to employees to the extent that an employer’s records do not substantiate that the expense was incurred as a valid business expense
• Payment for filming of commercials, excluding subsequent residuals that are earned by the commercial’s participant(s) each time the commercial appears in print or is broadcast.