WC Policy - 2 skilled employees getting 40000 & 35000 gross wages - total wages is 60000? - CiteHR
Pan Singh Dangwal
Joint Manager
Hr Executive

Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
Our contractor has submitted a WC policy for 2 skilled employees getting 40000 & 35000 gross wages.
But the total wages for both during the policy period is 60000/- only . Is it okay if not then what is error. please suggest.
Community Prime Sponsors
FactoHR.com - Payroll Software with GPS Enabled Attendance, Travel, Performance Management, HRMS.
Talentedge.com "Interactive Anywhere Learning". Executive courses from top reputed institutes like IIM, XLRI, MICA.
Dear Member,
The query can be well answered only after checking the policy and detailed wages breakup of the employees.
Pls make sure your site/office location mentioned in the policy.
In order to optimize the premium amount, sometime the contractor consider part of the wages and mention lower wages on the policy bond. Also check whether the amount mentioned by you is Wages or CTC. If you are talking about the CTC than the policy wages will be less.
During the renewal of policy you can ask the contractor to submit detailed costing and policy terms. Than only get the policy renewed.
Seniors can throw more light on the matter.
Please Login To Add Reply

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2019 Cite.Co™