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Northwest Territories and Nunavut06.03CALCULATION OF PERMANENT COMPENSATIONPOLICY STATEMENT The Workers Safety and Compensation Commission (SCC) provides monthly pension payments to workers with a
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How to fill out calculation of permanent compensation:

01
Start by gathering all necessary information related to the employee's compensation. This includes details such as the employee's base salary, bonuses, commissions, and any other forms of regular income.
02
Next, determine the time period for which the permanent compensation will be calculated. This could be a monthly, quarterly, or yearly calculation, depending on the company's pay structure.
03
Calculate the employee's average earnings over the specified time period. This can be done by adding up all the income components and dividing it by the number of periods.
04
Consider any factors that may affect the average earnings calculation. For example, if the employee was on leave without pay or received any significant pay changes during the specified period, these should be taken into account.
05
Once the average earnings have been determined, multiply it by the predetermined multiplier or percentage set by the company or relevant laws. This will give you the amount of permanent compensation owed to the employee.
06
Double-check all calculations to ensure accuracy. Mistakes in the calculation can lead to under or overpayment of permanent compensation, which can result in legal issues or dissatisfaction among employees.

Who needs calculation of permanent compensation:

01
Employees who have suffered a permanent disability or injury in the workplace and are entitled to receive compensation as a result.
02
Employers or HR departments responsible for managing employee compensation and ensuring compliance with relevant laws and regulations.
03
Insurance companies or legal representatives involved in determining and processing permanent compensation claims.
04
Employee benefits professionals who provide guidance and assistance to individuals seeking to understand their rights and entitlements regarding permanent compensation.
05
Government agencies or departments responsible for enforcing labor laws and ensuring fair compensation practices, who may need calculations of permanent compensation for auditing or investigative purposes.
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The calculation of permanent compensation is the process of determining the amount of compensation that an individual is entitled to receive on a permanent basis.
Any individual who is eligible for permanent compensation is required to file the calculation of permanent compensation.
To fill out the calculation of permanent compensation, the individual must provide all relevant information regarding their injury or disability, as well as any supporting documentation.
The purpose of the calculation of permanent compensation is to ensure that individuals who have suffered a work-related injury or disability receive the appropriate amount of compensation.
The calculation of permanent compensation must include details about the individual's injury or disability, medical treatment received, and any other relevant information.
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