Government Contracting Compliance Essentials – AXIM

AXIM Fringe Solutions we would like to
thank you for watching its compliance essentials video where we review our own
personal recipe for success with the complicated fringe reporting that comes
with winning a government contract because if you’ve ever been responsible
for that compliance reporting before you’re well aware of just how
complicated it can be beginning with that there’s no two contracts that are
the same and the Department of Labor doesn’t give you a whole lot of help in
understanding exactly what they want then you get the joy of reporting by
every employee by hour and by benefit and understanding what happens when
things like people changing jobs therefore switching labor categories or
the wage determination changes or even the place where the job is being
performed changes and how all of those things can affect how you compensate
your employees and just in case that didn’t sound so bad to you multiply all
of those complications by every employee both current and former in the previous
two years because that’s what the Department of Labor expects you to be
correct and liable for which may not be so bad if there wasn’t so much at stake
one employee phone call to the Department of Labor could lead to an
audit and an that could lead to having your contract terminated getting
kicked out of government contracting for three years or if you’re lucky just
having to pay back pay fines or be suspended which is where you have to
keep working on the contract but the government refuses to pay you in short
there is no greater threat to your government contracting revenue than
non-compliance now before we talk about avoiding that situation a brief word on
why we’re qualified to do so AXIM is a government contractor
specializing to compliance who has been audited by the Department of Labor 190
times without a single violation we believe in our compliance reporting so
much that we guarantee our compliance or we’ll pay the fine and the three most
common mistakes we find and contractors compliance reporting its first
misunderstanding the contract and how it’s supposed to be compensated from the
very start second is not keeping up with the rate and rule changes that come from
the Department of Labor on a semi-regular basis and third not
accounting for the different adjustments from the insurance company and other
things along the way now let’s take a deeper dive into each
one of these pitfalls you should always begin by assessing every contract as its
own entity and not rely on your knowledge of past present or future
contracts to guide how you perform on this one every one of them is different
as our compliance experts say the devil is in the details
when unclear reach out to your contract agency or officer to get clarification
our worst be able to prove that you tried which in and of itself can be
valuable and while starting off the right foot is very important you need to
recognize that government contracts change and you are responsible for those
changes the fringe rate changes at the mid-year and as to when you update your
contracts it’s up to your agency or officers to win and something else you
should probably reach out about you also need to stay on top of any new
government regulations for compensation reporting or anything related to them
the government will not accept I didn’t know as a valid excuse for you shorting
a worker of their pay lastly just because you did your compliance doesn’t
necessarily mean that it’s done changes an employee hours classifications
insurance carrier rates are a number of other factors means you need to
recalculate your fringe reporting remember that going back and fixing
things is always okay by the government because it shows that you were trying to
do right by the employees what they won’t accept is my reporting was correct
at the time and finally we want to share exactly how we go about avoiding those
pitfalls it begins with risk assessment on the
actual contract like we discussed understanding the details then we
educate our staff contractors and anyone else involved as to the expectations of
the contract perform casual review we pull a sample of the compliance
reporting and make sure it’s correct to see the machines working correctly as
well as an in-depth review on a by yearly or yearly basis to know that it’s
truly correct if there are mistakes along the way not only do we correct
them but we have proof that we correct them because the government understands
the compliance reporting is truly hard and if they see you’re trying your best
to perform it and give you a lot of credit when you make a small mistake but
if you’re looking for a simpler and less expensive way to get that same assurance
you might want to consider subcontracting with AXIM who guarantees
their DOL compliance reporting and provides an online portal for you and
your employees to look up your fringe benefit information on behalf of
everyone here at AXIM we’d like to thank you for taking the time to watch
this video if you have any questions about compliance or anything we
discussed don’t hesitate to contact us thank you again for your time and the
best of luck to you

Maurice Vega

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