Reporting your payroll
Once registered, you are charged annually for your workplace insurance coverage; your premiums are based on each $100 of your assessable payroll.
Employer’s Payroll Statement
If you are registered with us, you must complete and return an Employer’s Payroll Statement (EPS) by February 28 each year. This form will be sent to your office at the beginning of January each year. You must return your EPS even if you have closed or sold your business, do not have workers, or do not want coverage so that we can keep your account up to date based on your business and needs.
On the EPS you must:
- Report your actual gross payroll for the previous year. We’ll compare the actual payroll with the estimate you provided the year before and make any needed adjustments.
- Give an estimate of your gross payroll for the current year, up to the maximum assessable wage per worker. We will use these figures to assess your premiums.
- List all the contractors you hired during the previous year, including detailed information on contract amounts and the type of work completed.
The annual EPS can be sent in online. There are two way file your EPS online. They are:
- Fast File EPS – This service allows you to send your EPS online without any special registration. Anyone who has the access code and firm number found on the form we sent to you can send the EPS using Fast File. Fast File your EPS now or learn more.
- Online Services Account – Employers who have set up an online account can send their EPS through this account. Log in now.
If you don’t have an Online Services Account but are interested in setting one up, register today.
Your EPS can also be mailed or faxed back to our office.
If you file your EPS after the February 28 deadline, you will be charged a penalty and you will not be eligible for an Experience Rate discount . If you don’t file an EPS, we will estimate your payroll and premiums. Our estimate will be what we use until you provide your actual payroll. If the estimate of your premiums is lower than your actual premiums, you are responsible for the difference. We will cancel personal or voluntary coverage.
If you stop business operations, you must give us your total gross payroll to the date you stopped operations and provide detailed information on the contractors you have hired. You must do this right away so we can adjust and close your account.
To determine your premiums, we require that you report your assessable payroll. Assessable payroll earnings are gross earnings – earnings before income tax, employment insurance, pension and other deductions. These earnings include regular wages and salaries (including directors that are reporting employment income on a Canada Revenue Agency T4 slip), piecework fees, commissions, bonuses, other payments and taxable benefits. There is no minimum amount and you must report assessable wages for all workers no matter how old they are.
You will need to provide a payroll estimate at the beginning of the year so we can figure out your premiums. The payroll estimate should always be an accurate reflection of what you will be paying to your workers in the year. Make sure that this estimate is always current as you will be charged a penalty if you underestimate it. You can revise your payroll estimate at any time throughout the year.
Maximum assessable earnings
The WCB provides benefits to a maximum insurable wage. Report each worker’s gross earnings only to the current insurable maximum per year set by WCB legislation.
|Maximum assessable earnings||$55,000||$55,000||$59,000||$65,130||$69,242||$76,086|