The definition of payroll taken from the Basic Manual For Workers Compensation and Employers Liability
Insurance is as follows:
For purposes of this manual, payroll means money or substitutes for money.
- Wages or salaries (including retroactive wages or salaries).
- Total cash received by an employee for commissions and draws against commissions.
- Bonuses including stock bonus plans.
- Extra pay for overtime work except as provided in Rule 2-C-2.
- Pay for holidays, vacations, or periods of sickness.
- Payment by an employer of amounts that have been withheld from employees to meet statutory obligations for insurance or pension plans such as the Federal Social Security Act or Medicare.
- Payment to employees on any basis other than time worked, such as piecework, profit sharing or incentive plans.
- Payment or allowances for hand tools or hand-held power tools used by employees in their work or operations for the insured. These tools may be supplied directly by the employee or to the employee through a third party.
- The rental value of an apartment or house provided to an employee based on comparable accommodations.
- The value of lodging, other than an apartment or house received by an employee as part of their pay to the extent shown in the insured's records.
- The value of meals received by employees as part of their pay. This must be shown in the insured's records.
- The value of store certificates, merchandise, credits or any other substitute for money received by employees as part of their pay.
- Payments for salary reduction, employee savings plans, retirement or cafeteria plans (IRC 125) that are made through employee-authorized salary reduction from the employee's gross pay.
- Davis-Bacon wages or wages from a similar prevailing wage law.
- Annuity plans.
- Expense reimbursements to employees to the extent that an employer's records do not confirm that the expense was incurred as a valid business expense.
Exception:When it can be verified that the employee was away from home overnight on the business of the
employer, but the employer did not maintain verifiable receipts for incurred expenses, a reasonable
expense allowance, limited to a maximum of $30 per day, is permitted.
- Payment for filming of commercials excluding subsequent residuals that are earned by the commercial's participant(s) each time the commercial appears in print or is broadcast. More...