Each province has different regulations for WCB so it is important to check with your provincial WCB office to find out whether you need to register. For most industries, workers’ compensation is covered by law (compulsory).
Employers operating in a compulsory industry must open a WCB account within 15 days of first hiring a worker.
Some industries are exempt from mandatory worker’s compensation coverage. Again always check with your provincial WCB office.
If you have employees, it is always a good idea to register with WCB for coverage. You never know how easily an employee can suffer an injury or have a job related health problem. In either case WCB insurance may prove to have been a wise investment.
It is illegal to deduct WCB premiums from the wages of your employee(s). There is a heavy fine if you are caught doing this. Many payroll software programs do have a field for entering your WCB rate. This field is for recording WCB fees and is not for a deduction. Remember you will be paying WCB fees based on the gross income of your employees. It is important to have an easy and fast way of calculating what these fees are.
By outsourcing your payroll to A1 Payroll Services, you will receive an accurate repost each month showing you exactly what you do owe WCB each and every month.
