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read the declarations and the policy, have your agent explain if you do not understatnd.

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20y ago

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What EIB mean on your Paychex invoice?

EIB on a Paychex invoice typically stands for "Employer Investment in Benefits." This refers to the employer's contributions towards employee benefits such as health insurance, retirement plans, and other perks. It is important for employers to accurately track and report these expenses for financial and tax purposes.


How you write letter of taking advance payment from customer?

You can write a letter, regarding taking an advance payment from a customer, simply by telling them why. Also tell them the amount, what day of the month the payment is expected, and the time period the payment covers.


Refund of payment bond?

Normally, these are not refundable. Bonds of this type are sometimes referred to as "reverse insurance"...the one providing it as part of the deal buys it, from a bonding/insurance company, and that company essentially guarantees performance of what the bond covers...they will perform if the one covered does ot. The premium is a payment, that like insurance, is NOT refunded if there are no claims.


What does CIP mean in shipping terms?

In shipping terms, the acronym CIP stands for "carriage and insurance paid to". This means the seller pays the carrier (such as FedEx) the shipping rate to get the product to the buyer. The seller also pays the insurance premium that covers damages to or loss of the shipment.


What tax is not deducted from an employees payroll?

One tax that is not typically deducted from an employee's payroll is the federal income tax for self-employed individuals. Unlike regular employees, self-employed individuals are responsible for paying their own taxes, including both income tax and self-employment tax, which covers Social Security and Medicare. Additionally, certain local taxes or voluntary contributions, such as retirement plan contributions or health insurance premiums, may also not be deducted from payroll.

Related Questions

What is fidelity guarantee insurance?

insurance that covers crime and theft by a firm employee


How important is insurance for small businesses?

Insurance is vital for any business, big or small. Insurance covers you in case of loss (fires, hurricanes, floods, and other disasters). It covers liability in case a customer were to slip and fall, or an employee were to get injured on the job.It can also help cover litigation. It would be very unwise to operate a business in this day and age without insurance.


What would the term blanket policy refer to in regards to insurance?

Blanket insurance refers to insurance, like a blanket, that covers it all. Blanket insurance covers properties, employee health, and thievery. No one item has a specific percentage of insurance.


Does general liability covers driving accident of an employee?

No, Your general liability insurance covers accidents on the work site. Commercial Auto Insurance would cover the work related auto accident of an employee. If the employee was injured while on the job, Your workers comepensation coverage would also apply.


How would you find out if your insurance covers invisalign?

you are able to find out if your insurance covers invisilign by by calling them on their own personal hotline and discussing it with them. Or try discussing it instore with a customer service representative.


What type of insurance do you need if you use your own car to instruct a new driver as an employee of a driving school?

If not covered by the school itself, you need insurance that covers "business" in addition to "pleasure" use. Also, you will need insurance that covers additional drivers.


What is the purpose of a fidelity insurance legally speaking?

Fidelity Insurance is also referred to as crime insurance. It protects a company in the event of a loss of money for multiple reasons from burglary to embezzlement. There are generally two types of insurance- employee dishonesty and money and security coverage. Employee dishonesty covers the company in the event that an employee steals in any way shape or form. Money and security covers losses outside of business personnel such as burglary, destruction, or disappearance.


What insurance covers employee needs during travel?

Employers first of all need to cover their employers with travel insurance. Another insurance that is imperative for the employer to cover is health insurance, since nothing is more tragic than losing a especially dedicated employee on the job during travel.


What is featured in the dental insurance from MetLife?

The dental insurance from MetLife generally covers most dental expenses and can be bought both as an employee benefit (if your company offers it) or as an individual plan.


Who is responsible for funding workers compensation?

the employer usually pays an insurance policy that covers the employee if they need workers comp leave.


Why would Public Liability Insurance be needed?

Public liability insurance is important to businesses as it covers the business if a customer or any member of the public suffers a loss or injury as a result of the business' activity. This type of insurance covers compensation claims as well as legal expenses.


What type of commercial insurance covers an employee causing damage at a 3rd party?

This would be covered under your general liability policy for your business