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PR17.1 - Workers Compensation Policy
Use Workers Compensation Policy (PR17.1) to record information about
the company's workers' compensation policy or policies, such as policy number,
effective date, carrier, and contact person.
IMPORTANT The application derives annual period limits by using the
BEGINNING date on the policy as defined in the State Annual Limit or the Limit
field on US Workers Compensation Classification (PR18.1) on the . Annual
period limits are not determined by using the ending policy date.
That means you need to:
- Define the policy for no longer than a year, and create new
policy records each year.
- or -
- Change the policy dates each year
If you do not, the limits will no longer be enforced.
For example, a policy is defined with a date range of 01/01/01 through
12/31/02, and the limit is $6,000 in annual earnings. If an employee reaches
the earnings limit for 2002 but not for 2001, the workers compensation
deduction
will continue to be taken because the annual limit is based on the closed
time records for 2001 (from PRTIME).
**Processing Effect
To calculate monthly limits, the application looks for
any closed time records within the same calendar month as the payment date
for the current payment to determine if the monthly limit has been met.
Updated Files
WCPOLICY -
Referenced Files
PRSYSTEM -
WCCLASSHDR -
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