MAINTAIN WORKERS COMPENSATION RATES#
The WC Calculation is determined by state/province in the Maintain WC Information (IPWC) form with the ability to turn it on or off.Workers Compensation data is stored in the P2K_PR_WC_REGISTRATIONS,P2K_PR_WC_CLASSES, P2K_PR_WC_CLASS_DETAILS tables.
- Entity
- This field displays the entity code for which you are establishing WC information.
- Entity Name
- This field displays the name of the entity for which you are establishing WC information.
- State/Province
- This is a mandatory field that holds a list of Provinces and States by Country. It is used to classify the specific state or province for which the WC Registration Type and Number will be associated with.
- WC Regist Type
- This field identifies the registration type. Up to 9 WC Registrations per province are presently available, if more lexicons are needed, they can be added in IMLN.
- Registration No.
- This field stores the WC Registration number for the state/province.
- Description
- This field stores the description of the WC Registration number for the state/province.
- Element
- This is a mandatory field used to select the element that contains the list of pay components that were defined as WC Earnings. It is recommended as a best practice to define a separate WC Earnings element.
- WCB Method
- This field stores the WC Method to be used for this state/province.
- Calculate WC
- Do Not Calculate
- WCB Class
- This field defines the WC class to be associated with each WC Registration. Please list all WC class entries in this section.
- Description
- This field stores the description for the WC class defined above.
The lower portion of the form holds the Effective date for the WC Earnings and WC Rate associated with each WC Class and WC Registration. The system does not require an effective record for each year. The only time a user would add a new effective record is if the WC Earnings or WC Rates change for the WC Class and WC Registration otherwise you may leave the record setup as is.
- Maximum Amount
- This field stores the annual maximum WC assessable earnings by effective date for this WC class.
- Percent
- This field stores the percentage to be used by effective date for this WC class. e.g. 1.22% enter as 1.2200.
For information on additional set up required for Workers Compensation and how the amounts are calculated see WORKERS COMPENSATION.
