About submitting earning statements to the Compensation Fund
If you are a registered employer, you are required to contribute a certain percentage of every employee’s earnings to the Compensation Fund.
The fund covers permanent and casual workers, trainees and apprentices who are injured or contract a disease in the course of their work and lose income as a result.
The Compensation Commissioner issues a return of earnings form to all registered employers every year by 31 January. You must complete and return the form not later than 31 March. If you have not received the form by February, you must approach the fund to get the form.
Your earning statements must stipulate the nature of your business, the number of employees you have and the amount you have paid them (salaries and wages) for the assessment period, from the beginning of March to the end of February (tax year). The Compensation Fund will use these figures to determine how much your employees will be paid in case of an occupational hazard.
It is your responsibility as the employer to ensure that all the information provided to the Compensation Fund is accurate and complete.
If the return of earnings is completed by your agent or a payroll administrator, it is compulsory for both you and the agent/payroll administrator to sign the declaration. It is a serious offence to make false declarations or fail to render a return within the prescribed period.
Note: An investigating officer or auditor may request you to submit financial statements or any additional information for further clarity.