Payroll Audit
A payroll audit is a review of an employer’s payroll records by an insurance company or its representative, usually after a workers’ compensation policy period ends. The purpose is to confirm the correct final premium based on actual payroll, employee classifications, and other policy details.
After the policy year ended, the insurer completed a payroll audit and adjusted the workers’ compensation premium based on the company’s actual payroll.
Related coverage
Workers Compensation
Coverage for eligible work-related injuries and illnesses; legal requirements vary according to applicable state law and business circumstances.
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