When your platform is set up you'll have Workers Compensation Industry Classification (WIC) codes set up allowing you to estimate your workers compensation payments in your foundU platform. You'll need to update the rates as you add new operations/ there are updates to your WIC rates.
When you add a new operation (including a new operation rates book for those businesses that use these), you'll need to have the operation WIC codes set up prior to setting your your rates book (otherwise you will not be able to save your new ratesbook).
Please note if you're looking at how to pay workers compensation(work cover) please click here.
When adding in Workers compensation you'll first need to create a new WIC group and then add in the WIC rates.
If your business uses Operation ratesbooks, you'll need to have the operation WIC codes set up prior to setting your your rates book (otherwise you will not be able to save your new ratesbook)
- In the quick menu select the hamburger icon to open the full menu and select Payroll Settings > Workers Compensation then click Add Group.
- Enter the Group ID.
- Enter the Name.
- Click + next to the relevant Group Name.
- Enter the ID, Name and Rate.
- Click Save.