The Commission de la Santé et de la Sécurite du Travail du Québec (CSST) needs to know the amount of wages paid by employers in order to calculate the insurance premium they must pay. For this purpose, every employer must file a Statement of Wages in March of every year. The CSST will use the information in this document to calculate your annual premium. This means it is vital to complete this form correctly because it affects your bill.
The requirement of CSST is that they need details on wages paid by the employer to ease the burden of calculating the required insurance premium that the employer must pay. The CSST require each employer to file a Statement of Wages during March for the present year. The exact filing date is March 15th. The seminar is designed to educate the participants in what should be declared of this Statement of Wages. It is also to educate the participants about the new methods of payments that came into force in 2011.
CSST uses the information provided to calculate the premiums that will apply to each individual employer. Accuracy in completing the form is very important as this could impact greatly on the premium required. Normally the completion of this type of form will raise certain questions and uncertainty whilst being completed.
The content required by CSST is mainly two important items that could affect the premium charged. This is the contribution rate and the actual wages paid to the company employees. This allows the CSST to calculate the contribution rate based on the data received from the organization.
Although this form is generally simple to complete for regular employees, a number of questions may arise when you come to enter the figures and it is of vital importance that data supplied is entered correctly as it could be altered during the auditing process and result in additional and unexpected claims with interest added to the company.
For a refresher from the Canadian Payroll Association please click the link:
www.payroll.ca/en/ProfessionalDevelopment/RegionalSchedules/Regional_Schedules.aspx.
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