ALL ABOUT WSIB


WHAT IS WSIB:

The Workplace Safety and Insurance Board (WSIB) is an independent provincial agency which provides compensation and insurance for Ontario workplaces.

WHO NEEDS TO REGISTER WITH WSIB:

You need to register with WSIB if you are in/have following businesses:

  • construction business

  • restaurant or bar

  • sales and services, agriculture or manufacturing business

  • trucking or transportation business

  • homeowner or private hiring a domestic employee, babysitter, nanny, cook, gardener, housekeeper etc.

You do NOT need to register with WSIB if you are in/have following businesses:

  • bank, trust and insurance company

  • trade unions

  • private day care

  • travel agency

  • photography business

  • barber shop and hair salons (some exceptions)

  • funeral or embalming establishment

Even though you do not need to register with WSIB, you can choose to apply for optional insurance which gives same benefits and protections.

WHAT INFORMATION YOU NEED TO REGISTER WITH WSIB:

Company Information

  • legal name of company

  • business Number

  • mailing, email and website addresses

  • phone and fax numbers

  • bank name

  • description of your business activity

  • payroll Information for any other business activities you maintain

  • names and addresses of any associated employers/contractors, plus their WSIB account numbers, if possible

Owner/Executives Details:

  • names, addresses, birthdates

  • official titles of directors or owners of the company

  • proof of earnings

Employees Information:

  • number of employees

  • earning information

  • date of first employee was hired

REPORTING and PAYMENT FREQUENCY:

  • If your annual insurable earnings are less than $300,000, you may prefer to report and make a payment either monthly, quarterly or annually

  • If your annual insurable earnings are $300,000 or more you MUST be enrolled monthly schedule

PREMIUMS and PAYMENT:

WSIB premium rates are based on two (2) things;

  • the size of your payroll

  • the health and safety risk for your type of business

WHAT IS THE CLEARANCE CERTIFICATES:

A clearance is a number which issued by WSIB. It indicates that a business, contractor or subcontractor is registered with WSIB and has an account in good standing which means all reports and payments of their premiums on time.

If you are new registered employers with WSIB, you need to make an initial advance payment of $250. This advance payment will apply to your WSIB account as a credit and will be adjust with your future premiums.

WHAT CHANGES YOU SHOULD LET WSIB KNOW:

It is important that you should let know any following changes to WSIB within 10 calendar days.

  • ownership

  • legal, trade or business name

  • address and phone number

  • the type of work your business does

  • stop employing all of your employees, or your business closes

Contact us: If you have any questions or inquiries regarding Payroll Account, you can contact us at 647-861-2099 or send email to info@globalabcservices.com


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