Statutory Guidelines [Appendix A(2) Tres. Reg 104-1] regarding compensation for injuries or sickness under workmen's compensation acts, damages, accident or health insurance, etc. as stated in the guidelines.
Virginia Compensation for Injuries or Sickness Treasury Regulation 104.1
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The Virginia Workers' Compensation Act says businesses with two or more employees are required to carry workers' compensation insurance. This insurance helps employees recover from work-related injuries or illnesses. The Virginia Workers' Compensation Commission (VWC) oversees workers' comp in the Old Dominion state.
Persons found wholly dependent on the deceased worker's earnings are entitled to a weekly payment equal to two-thirds of the employee's average weekly wage. This amount is equal to the rate for temporary total disability benefits.
The average cost of workers' compensation in Virginia is $39 per month. Your workers' comp premium is calculated based on a few factors, including: Payroll. Location.
Section 104(a)(1) excludes from gross income amounts which are received by an employee under a workmen's compensation act (such as the Longshoremen's and Harbor Workers' Compensation Act, 33 U.S.C., c.
If your doctor says you cannot work because of your work-related injury or illness, you may be entitled to compensation equaling 66 2/3% of your regular wages based upon earnings for the 52 weeks prior to your injury. This amount is subject to a statewide maximum reimbursement amount.
The formula for PPD wage benefits is: your permanent impairment rating multiplied by two-thirds (66.66 percent) of your average weekly wage, and the product multiplied by the number of weeks specified in the Virginia Workers' Compensation Act (§ 65.2-503).
Wholly Dependent Family Members and Death Benefits Total dependents are eligible to receive two-thirds (2/3) of the deceased worker's average weekly wage. They are eligible to receive this compensation for 500 weeks (just over 9 and a half years).