Importance of declaring wages every year end

  1. profile image47
    pathak2610posted 7 years ago


    I'm working for a transportation solutions company which has a lot of workers, drivers, labors etc.

    My question is what if my company does not declare the wages to the insurance company, for the Workmens Compensation policy, at the end of every year. here, even the insurance company is deliberately overlooking this omission.

    It seems this is an easy way to retain our business for the insurance company & suits my company fine as our premium doesnt increase

    Do let me know if there can be any negative consequences of this practice for my company except that the insurance company can refuse to honor a claim (p.s. the insurer here always honors our claims due to the years old relationship)

    is this ok if its helping both the parties??

    Please advise.


    1. Rochelle Frank profile image95
      Rochelle Frankposted 7 years agoin reply to this

      If it is illegal, it might not help either party.

    2. Rafini profile image90
      Rafiniposted 7 years agoin reply to this

      Sounds like fraud to me - and fraud is illegal.