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Founded in 2012, SumHR is based in Mumbai, India, and has been serving businesses across various industries, including IT, hospitality, healthcare, and more. Payroll Management: SumHR simplifies payroll management by automating various payroll processes, including salary calculations, tax calculations, and more.
As an employer, you are likely familiar with reporting regular wages and taxes withheld on Form W-2. Imputed income is adding value to cash or non-cash employeecompensation to accurately withhold employment and income taxes. Basically, imputed income is the value of any benefits or services provided to an employee.
The workers’ compensation coverage for US federal employees does not fall easily into these three categories. US federal government employees are covered under the Federal EmployeesCompensation Act (FECA), administered by the Department of Labor’s Office of Workers’ Compensation Programs (OWCP).
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