![]() ![]() Under the New Jersey PIP statute, every standard automobile liability insurance policy currently in effect must have personal injury protection benefits. whether it is insured under a commercial versus a personal policy of insurance). In these situations, our courts have repeatedly held that a minivan and an SUV are designed to be private passenger automobiles and are required to carry PIP coverage, regardless of how the vehicle is classified for registration and insurance purposes (i.e. This issue often arises when an injury is sustained by a person occupying a motor vehicle (usually a minivan or an SUV), which is owned by a business and used for commercial purposes. Accordingly, it is the nature of the vehicle which determines whether PIP coverage is required. Registration is a concept relating exclusively to the privilege to use an automobile on a public road it is not a concept affecting the nature of the vehicle itself.Ī fundamental principle of the no- fault statute is that it is only applicable to accidents involving “automobiles,” which generally refers to private passenger vehicles or station wagon type vehicles. However, who owns the motor vehicle or how it is registered is not necessarily determinative of whether the vehicle is required to maintain PIP benefits under New Jersey’s no-fault statute. ![]() Please have your say in the comment space below, in case of any mistake or query.Minivans and SUVs Used for Business Purposes Must Carry PIP CoverageĪcommon misconception is that a motor vehicle that is owned and registered to a business is not required to carry personal injury protection (PIP) coverage. I have covered almost all types of allowances and perquisites which an employee can get. The reduced rate of contribution of the employees from 1.75% to 0.75% and employers from 4.75% to 3.25% will be effective from 1st July 2019.Eligible employees mean those who are getting gross pay up to ₹ 21,000/- or less per month.20 eligible employees to get registered in ESIC.Those who are getting above ₹ 21,000/- gross per month is not covered under ESIC act.Conveyance Amount towards reimbursement for duty related journey.Payment of Inam which does not form part of the terms of employment.Pay in lieu of notice of retrenchment compensation.Sum paid to defray special expenses entailed by the nature of employment – Daily allowance paid for the period spent on tour.Contribution paid by the employer to any pension/ provident fund or under the ESIC Act.Children education allowance (not being reimbursement for actual tuition fee).Overtime wages (but not to be taken into account for determining the coverage of an employee).all the expenses incurred by the Company for any of its employee for a particular period(monthly/yearly). Gross Salary means the cost to the company i.e. If the contribution is not paid in time, interest 12% is payable. The contribution has to be paid within 21 days from close of the month. Therefore Net pay = Gross pay – Total deductions.Employee contribution would be 8000*0.75% = ₹ 60.So if the gross salary of an employee is ₹ 8,000 p.m, then Employer’s contribution is 3.25% (earlier 4.75%) of gross salary payable to each employee, rounded off to next higher rupee. The employee’s contribution is 0.75% (earlier 1.75%) of gross salary (basic plus allowances), rounded to the next higher rupee. Minimum 20 eligible employees are required to get registered under ESIC. It is calculated on the basis of gross salary/wages/pay per month and the maximum limit is up to ₹ 21,000/- per month (earlier it was ₹ 15,000 per month). ESIC calculation as per ESIC rules of act 1948ĮSIC calculation as per ESIC rules of act 1948ĮSIC includes the medical benefit both for the employee and employer. ![]()
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