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insurance requirement is liable to pay a surcharge to the Employees Compensation Assistance Fund Board. Should there be any enquiries on legal liability, employers should seek professional legal advice. Responsibility of Employer. The employer should take note of the following minimum insurance cover when taking out employees’ compensation ...
7 lip 2022 · A compensation plan (also known as a comp plan) is a set of guidelines for employees’ salaries, bonuses, and equity. It gives current and prospective employees a clear view of their compensation package—which gives your company an advantage as you’re hiring.
21 kwi 2023 · Get a demo. Types of compensation & compensation examples. Compensation, also called “direct compensation,” is strictly salary, bonuses, and equity. “Total rewards” encompasses compensation plus benefits. (You may hear total rewards described as “total compensation,” but since benefits aren’t strictly compensation, that’s less accurate.)
Employee or Employees of the Insured shall sustain Injury by accident arising out of and in the course of his employment in the Business, for which the Insured is liable to pay compensation under any Law(s) specified in the Schedule, then the Company shall indemnify
ECI policy covers employer’s liability to compensate the employee who sustains an injury or dies from an accident arisen out of his/her employment. Under the Employees’ Compensation Ordinance, employers are obliged to take out ECI policies for its employees. When taking out a new / renewing
Employers pay for the EC contributions of their employees. • For a covered employee in the private sector, his employer shall remit to the SSS a monthly contribution in accordance with the
When employers pay employees’ compensation insurance premium to insurers, they should pay the levy at the same time. According to the Employees’ Compensation Insurance Levies Ordinance, the insurers should remit to the Board the levies that are paid by employers within a period of three months.
