Compensation and benefits forms are documents which are categorized under a company’s hr forms allotted for inquiries and matters relating to the compensation and employment benefits of the hired employees and staff. These forms are often used by employees to claim their benefits as well as to enroll in the benefit packages that a company offers and serves. Nevertheless keeping the completed compensation and benefits form is important for any company especially for gathering numbers of transaction and inquiries that the company obtained in a year, and in determining the specific job position or category of employees who are users of a particular variety of compensation and benefits forms.
Compensation and benefits form varieties differ on who is the targeted audience of the form and what types of data and information will be incorporated in the form. Below are some of the common varieties of compensation and benefits forms that companies and organizations can use for their employees:
Attending Physician Benefits Form – This variety of compensation and benefits form is intended to be used by an employee and his attending physician. The form is important to be used by an employee who will be claiming his medical benefits from the company either due to a personal health concern or an injury acquired in the company’s premises. Two sections comprise the form which is allotted to be filled out by the physician and the employee. The first section of the form will be required to be completed by the physician wherein the details of the employee’s medical condition will be disclosed along with the indication and estimation date of when the employee will be provided with a return to work notice. To further prove the employee’s condition, the physician should be able to submit a completed medical report where the description of the employee’s injuries will be stated.
The second section of the form is where the employee will be presented with a question regarding his work status of whether he performed a specific task during the phase of his disability, and if he was provided with a payment in the period of his work. Additionally, the employee should also sign and date the form to certify that his provided answers and statements are true and accurate.
Benefits Change Form – If an employee wants to change any of his information in an employee benefits package, or if he wants to change from one package to another, then he must use a document known as benefits change form. This document will inform the authorized official of the company about the intent of the employee to update his data and provide changes in his previous choice of employee benefits package. The form contains four sections to be filled out by an employee. To complete the form, the employee must fill out the employee information section of the form wherein his employee identification number, position, and salary pay period will be disclosed. Then, the employee should provide the reasons why he is requesting the change either due to matrimonial concerns, a birth or adoption of a child, or if a dependent have become ineligible for the benefits package.
Moreover, the employee should mark the specific coverage that he plans on changing or which should be changing due to its relation to the employee’s reasons in the third section of the form. The remarks of the employee should clearly indicate whether he will be removing a coverage, be adding a plan, or be incorporating a change in the plan’s level of coverage. Lastly, the fourth section of the form will require the employee to identify his dependents, mainly his family members, ranging from his spouse to his children. The dependents’ dates of births and social security numbers are some of the information to be indicated in the fourth section as well. Once every section is completed, the employee should affix his signature for certification and submit the form to the office of the company where the changes and updates will be executed.
Benefits Enrollment Form – For new employees who are aiming to enroll and register for a particular benefits package, a benefits enrollment form should be completed and submitted to the company. This enrollment form allows the employee to supply his personal information which includes his name, address, and contact numbers. The information of the employee’s dependents are also necessary for the form’s completion which should state each of the dependents’ names, relationship to the employee, genders, and social security numbers. To verify a dependent’s eligibility, the employee must be able to submit varieties of dependent verification forms and documents along with the enrollment form.
Then, the employee’s choices of plans and coverage should be identified including the employee’s limitation towards his spending account and the amount of his monthly pledge. By signing the form, the employee is implying that he is making a binding election of his benefits until he will be changing his elections and his choices. The company authority or the administration who will be receiving the enrollment form of the employee should then indicate the date of when the employee was hired along with the date of when the chosen coverage will be effective for the employee’s benefits plans.
Compensation and Benefits Definition Form – Compared to the aforementioned forms, this variety of compensation and benefits form is not intended to be used by the employee, rather only to be read and understood by him. Specifically, a compensation and benefits definition form will layout what an employee will be receiving as a reward for his job position. The form will have the list of compensation inclusions, pension and employment benefits, and the particular expenses which are covered by the company along with an employment agreement with a set of provisions that the employee should obey during his employment in the company.
Worker’s Compensation Notice Form – For companies who will want to contest an employee’s rights to obtain a worker’s compensation then they must use a specific worker’s compensation notice form which will be filed to the legal authority. The form contains the details of the employee, company or their representing attorneys. The reasons for the company’s contest is stated in the form as well.
Worker’s Compensation Payment Memo Form – If an employee is reported as injured, he is not the only party who will be needing to complete a variety of compensation and benefits form but also his company wherein a worker’s compensation payment memorandum must be fulfilled days after the injury has been informed to the management. The purpose of the memorandum is to record the actions of the company towards providing sufficient funds for helping the employee in his medical and financial needs. Also, the form must be documented since it is an essential form which is also collected by a specific government agency to ensure that companies are meeting their obligations for their employees.
When a company uses any of the varieties of compensation and benefits forms, it will be receiving tons of advantages and aid especially in managing the company’s finances and keeping a good rate in employee retention. The reasons are stated below of why using compensation and benefits forms are important for companies and even organizations:
With the aforementioned form varieties, companies will be able to choose what document they will be preparing for their employees. On the other hand, with the listed reasons why the forms are important, both parties, the employee, and the company will know that using the forms does not only contribute to one party’s advantage which aids in promoting a healthy workplace.