NJ Workers Compensation Explained
NJ Workers Compensation premium is determined by the following:
Remuneration which includes money or substitutes for money.
- Commissions including draws against commissions
- Bonuses including stock bonus plans
- Payments to employees made on any basis other than time actually worked, including but no limited to piecework, incentive plans or profit sharing arangements
- Wages for holidays, vacation or sickness periods
- Board and lodging
- Extra wages for overtime work
- Payments or allowances to employees for hand or power tools furnished by employees
- Payments by the employer of contributions required by law to statutory insurance or statutory pension plans such as Federal Social Security Act which would otherwise by paid by the employee
- Annuity Plans
- Payments for salary reduction, retirement or cafeteria Plans which are made through deductions from the employees gross pay.
Contact us today to learn more New Jersey Workers Compensation Do’s and Don’ts = Call 973-377-6100.