Our contractor has submitted a WC policy for 2 skilled employees getting 40000 & 35000 gross wages.
But the total wages for both during the policy period is 60000/- only . Is it okay if not then what is error. please suggest.
From India, Gurgaon
5But the total wages for both during the policy period is 60000/- only . Is it okay if not then what is error. please suggest.
From India, Gurgaon
Dear Member,
The query can be well answered only after checking the policy and detailed wages breakup of the employees.
Pls make sure your site/office location mentioned in the policy.
In order to optimize the premium amount, sometime the contractor consider part of the wages and mention lower wages on the policy bond. Also check whether the amount mentioned by you is Wages or CTC. If you are talking about the CTC than the policy wages will be less.
During the renewal of policy you can ask the contractor to submit detailed costing and policy terms. Than only get the policy renewed.
Seniors can throw more light on the matter.
From India, Delhi
The query can be well answered only after checking the policy and detailed wages breakup of the employees.
Pls make sure your site/office location mentioned in the policy.
In order to optimize the premium amount, sometime the contractor consider part of the wages and mention lower wages on the policy bond. Also check whether the amount mentioned by you is Wages or CTC. If you are talking about the CTC than the policy wages will be less.
During the renewal of policy you can ask the contractor to submit detailed costing and policy terms. Than only get the policy renewed.
Seniors can throw more light on the matter.
From India, Delhi
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