Wsib Premium Remittance Form PDF Details

Navigating the complexities of workplace safety and insurance can be daunting for businesses, but the WSIB Premium Remittance Form serves as a crucial tool in this process. At its core, the form is designed to help employers calculate and remit their insurance premiums effectively. The first section is essentially a worksheet where total insurable earnings, including optional insurance, are tallied and then used to calculate the premium owed by multiplying with the designated premium rate. This culminates in the reporting and payment process geared towards ensuring that workplaces are covered against possible employee injuries or diseases arising from work. Notably, premiums must be reported by a specific due date to avoid non-compliance charges, highlighting the importance of meticulous completion and timely submission. Employers must pay close attention to various reporting specifics such as classifications for workers and contractors, accounting for optional insurance, and correctly identifying workers for premium purposes. Additionally, the form provides guidance on dealing with common and direct earnings across different classification units within a business, ensuring accurate premium calculation. Completing and submitting the bottom stub of the form alongside payment concludes the process, with multiple payment options available for convenience. For businesses requiring assistance, comprehensive contact information and detailed instructions are readily available, ensuring that the task of remitting WSIB premiums is as straightforward as possible.

QuestionAnswer
Form NameWsib Premium Remittance Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other nameswsib premium remittance form pdf, wsib forms upload, premium remittance wsib form, wsib premium remittance form

Form Preview Example

Completing Your

PREMIUM REMITTANCE

General Information

The top part of the Premium Remittance Form is a work sheet to calculate your insurance premium payment. Keep it for your records, and for audit purposes.

Complete and return the bottom part, (the stub) with your payment.

Premiums not reported by the due date will result in a non-compliance charge.

Need help? See the next page for contact information.

FORM

If your irm has one CU

1.Write the total insurable earnings amount for all workers, including optional insurance, in Column A beside the CU description.

2.Multiply the amount in Column A by the premium rate in Column B.

3.Divide the total by 100 to get the premium amount owing.

4.Write the premium amount in Column C.

5.Write the premium amount in the CU Premium column on the remittance stub beside the CU description.

Make sure you know

How the WSIB deines a worker for the purposes of reporting and paying insurance premiums

If you have special reporting issues, such as

Contractors (including subcontractors)

Workers who earn over this year’s annual maximum insurable earnings of $79,600

Optional insurance for sole owners, partners, independent operators and executive oficers

More than one Classiication Unit (CU) preprinted on your form

Volunteer forces

See Details on next page.

Your form has preprinted information speciic to your account. If you ind a discrepancy, please contact your account representative. Processing delays or errors occur if you

alter the preprinted information

return a photocopy or,

use a form from a different reporting period.

Calculating your payment

1.Determine the workers you are reporting earnings for during this reporting period. See Details on next page.

2.Determine the gross earnings for each worker during the reporting period. This includes optional insurance and volunteer forces, if applicable. Gross earnings include items such as room and board, vacation pay, and amounts shown as deductions on T4s for income tax, beneit plans, etc.

3.Deduct non-insurable gross earnings such as supplementary maternity beneits, executive oficers earnings, and excess earnings from the total gross earnings. (Details on next page.) This gives the total insurable earnings. For more details about insurable earnings, contact your account representative.

4.Include the labour portion of the contract for contractors (subcontractors) that you and the WSIB consider to be workers.

If your irm has more than one CU

The earnings related to work performed are considered either direct or common.

Direct earnings are earnings that can be assigned to a CU directly from records that clearly show the earnings by business activity.

Common earnings are for work completed to support business activities in two or more CUs and can include human resources, accounting, administrative staff, and people covered by optional insurance. If Common work is performed, you must include a portion of the Common earnings with each CU when calculating premiums as follows:

1.Determine the direct earnings for each CU.

2.Total the direct earnings from all CUs.

3.Determine the total common earnings.

4.Divide the direct earnings for each CU by the total direct earnings for ALL CUs. This results in the proportion of common earnings to use for each CU. Then multiply each amount by 100 to get the percentage.

5.Multiply the percentage for each CU by the total common earnings. This gives the amount of common earnings to assign to each

CU description.

6.Add the common earnings amount PLUS direct earnings for each CU. Write the totals in Column A beside the appropriate CU.

7.Multiply the igures in Column A by the premium rates in Column B.

8.Divide the totals by 100 to get the premium owing for each CU, and write the amounts in Column C.

9.Add the amounts in Column C. This is the premium amount due for this reporting period.

10.Write the premium amount for each CU from Column C in the CU Premium column on the remittance stub.

No earnings to report?

Write ‘0’ (zero) as the insurable earnings for any CU that has zero earnings for this reporting period.

Completing Your

PREMIUM REMITTANCE FORM

Making your payment

You can pay by ePayment, at most inancial institutions, by debit card at your local WSIB ofice, or by cheque.

Make the cheque payable to the WSIB.

Clearly print your account number on your cheque. You may post-date the cheque to the due date.

Send your cheque and stub to PO Box 4115, Station A, Toronto ON M5W 2V3 or to one of our ofices.

For ePayments, mail your Premium Remittance stub so the WSIB receives it before the due date.

Details

Workers

A worker is anyone you employ in your business under a contract of service or apprenticeship. Any member of the family (including a spouse, children or relative of a sole owner, partner

or executive oficer) who is employed under a contract of service and receives earnings is considered a worker.

Workers can be employed either full-time, or part-time, including seasonal or temporary employees, students, apprentices and learners, and training participants.

Contractors (including subcontractors)

A contractor (subcontractor) is an individual or company that you enter into an agreement with to perform a service on your behalf.

If the contractor does not employ other workers, he or she may be considered either a worker or an independent operator

If you consider an individual to be an independent operator, you must have the WSIB conirm their status and keep copies of letters of conirmation.

If the WSIB determines the contractor is a worker, then you must include the labour portion of the contract as gross insurable earnings when you calculate your premium payment.

Earnings over the maximum (excess earnings)

The WSIB sets an annual maximum for insurable earnings.

For 2011 the annual maximum is $79,600

For workers who earn over the maximum, include only up to the maximum when calculating the premium.

Optional insurance

Include optional insurance amounts for this reporting period in the gross insurable earnings calculation.

Sole owners, partners, independent operators and executive oficers are not automatically entitled to WSIB beneits, but may apply for optional insurance coverage.

People with optional insurance are considered workers for reporting and premium purposes. If injured, they are eligible for the same beneits as other workers.

To cancel optional insurance, contact your account representative.

If you need help and do not know your account representative’s name and phone number,

contact the WSIB ofice nearest you.

0976A (12/10)

Guelph

(519) 826-4650

 

1-888-259-4228

Hamilton

(905) 523-1800

 

1-800-263-8488

Kingston

(613) 544-9682

 

1-800-267-9461

Kitchener

(519) 576-4130

 

1-800-265-2570

London

(519) 663-2331

 

1-800-265-4752

North Bay

(705) 472-5200

 

1-800-461-9521

Ottawa

(613) 237-8840

 

1-800-267-9601

Sault Ste. Marie

(705) 942-3002

 

1-800-461-6005

St. Catharines

(905) 687-8622

 

1-800-263-2484

Sudbury

(705) 675-9301

 

1-800-461-3350

Thunder Bay

(807) 343-1710

 

1-800-465-3934

Timmins

(705) 235-6130

 

1-800-461-9856

Toronto

(416) 344-1000

(Ontario only)

1-800-387-0750

Windsor

(519) 966-0660

 

1-800-265-7380

Canada wide

1-800-387-5540

If your business is in:

Agriculture, call Guelph

Forestry, Pulp & Paper, call Thunder Bay

Mining, call Sudbury