How is wsib calculated

Under the new system, classes are further divided into a number of Risk Bands. A business will be assigned to a Risk Band that best represents their risk in relation to other businesses in their class. Businesses that fall under the same Risk Band will all be assigned the same Premium Rate that reflects their individual risk profile. Risk Banding Under the new system, classes are further divided into a number of Risk Bands. Does SIEF still exist and if so, are there any changes to the policy?

Will there be any changes to the Claim Appeal process? Latest news Coverage of the Global Investment Conference Eighteen months after the onset of the coronavirus crisis, the Global Investment Conference looked at how the uncertain global future will impact pension portfolios By: Gideon Scanlon November 9, November 8, By: Blake Wolfe November 9, November 8, Split Class.

Wage type. Wage type text. Split indicator. WCB juris. WCB account. See Expanded Compulsory Coverage in Construction for exceptions.

For details and exceptions on who must be insured, please see our policy on Workers and Independent Operators.

Earnings to include Any taxable benefits included in box 14 of the T4 such as wages, annual salary or payments for piece work Room and board that are part of earnings Bonuses and commissions Merchandise awards Profit-sharing Overtime pay Sick pay Vacation pay Severance pay if an Employment Insurance EI Record of Employment has not been issued For the complete list of earnings to include, see appendix I of our Determining insurable earnings policy.

If common work is performed, you must include a portion of the common earnings with each NC when calculating premiums as follows: Determine the direct earnings for each NC. Total the direct earnings from all NC. Determine the total common earnings. Divide direct earnings for each NC by the total direct earnings for all NCs. This results in the proportion of common earnings to use for each NC. Then multiply each amount by to get the percentage. Multiply the percentage for each NC by the total common earnings.

This gives the amount of common earnings to assign to each NC description.