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MAINTAINING YOUR RECORDS <br />FOR AUDIT PURPOSES <br />WHAT IS A PREMIUM ADJUSTMENT?Remuneration does not include: <br />a.Employercontributionstoagroupinsuranceor <br />WhenyourWorkers'Compensationpolicywasissuedyoupension plan other than statutory plans of insurance. <br />paidadepositpremiumbasedonthenatureofyourb.Specialawardsforindividualinventionsor <br />businessandestimatesofyourpayroll.Attheendofthediscoveries. <br />policyperiod,weconductanaudittocomparethec.Overtime.* <br />estimatesagainsttheactualfiguresandoperations. <br />Basedonthiscomparisonanadjustmentismade.IftheSubcontractors.Intheabsenceofotherinsurance,most <br />actualpremiumislessthanwhatyoualreadyhavepaid,astatelawsholdacontractorresponsibleforinjuriesto <br />refundwillbemade.Ifit'smore,youwillbebilledfortheemployeesofsubcontractors.Atthetimeofaudit <br />difference.TheseadjustmentsaresubjecttoanyminimumCertificatesofInsurancemustbeavailablefor <br />premiums that apply.subcontractorswithemployees,inordertoavoidpayment <br />of premium. <br />HOW WILL THE PREMIUM ADJUSTMENT BE MADE? <br />IndependentContractors,withoutemployees,whose <br />Onsmaller,lesscomplexoperationswemaye-mailyou,dutiescloselyresemblethoseofanemployee,willbe <br />callyou,ormailyouarequesttoaskyoutoprovidetheconsideredyouremployeewiththeappropriatepremium <br />informationviaouronlineweb-basedportal,mailorcharged. <br />telephone.Ifwerequirethisinformation,wewillprovide <br />anelectroniclinkto,orapapercopyof,thenecessaryTheactualworkingrelationshipbetweenyouandthe <br />forms for you to complete.IndependentContractorisexamined.Itemssuchas,but <br />notlimitedto:whethertheworkperformedisanintegral <br />Onlarger,morecomplexoperationsoneofourPremiumpartofyouroperations,whetheryouhavetherightto <br />Auditorswillcontactyouforanappointment.Youwillbecontrolthedetailsofthework,themethodofpayment, <br />contactedeitherbye-mail,telephoneormail.Ifdirected,whosuppliedthematerialsused,doestheperson <br />theauditorwillcontactyouraccountanttoobtainasmuchregularlyworkforothers,whoseregulatoryauthoritydid <br />informationaspossibleandcontactyouatalatertimeforpersonoperateunder,whetherthepersonisinvolvedina <br />additional information that may be needed.separateanddistinctbusinessofferingthesameservices <br />to the public. <br />BASIS OF PREMIUM <br />RECORDS <br />Remuneration (Payroll) in most states, includes: <br />Aspartofthepolicyconditions,weareallowedto <br />Payment of:Wages,bonuses,commissions, <br />examineyourfinancialbooksandrecordstodetermine <br />overtime,*sickpay,vacationpay,*tool <br />actualexposuresandoperations.Wewouldappreciate <br />allowances,contributionstoindividual <br />yourcooperationinmakingtheneededrecordsavailable <br />retirementaccounts,employee <br />for the auditor's inspection. <br />contributions to employee benefit plans. <br />Payments on <br />What Records Will Be Needed? <br />basis of:Piece work, incentive plans, profit sharing. <br />Therecordsneededwillvary.Inmostcases,thePremium <br />The value of:Housingfurnishedtoemployees,*meals <br />Auditorwillbeabletoobtainthenecessaryauditdata <br />furnishedtoemployees,*storecertificates, <br />fromtwoormoreofthefollowingrecords:Journals, <br />merchandise and other dollar substitutes. <br />Ledgers,StateandFederalTaxReports,Individual <br />Earning Cards, Checkbooks and Contracts. <br />Form 98456 5th Rev. 12-13Printed in U.S.A.Page1 of2 <br /> <br />