In: Accounting
Your supervisor, Janine Beauregard, has requested you prepare a memo explaining what a Record of Employment is, the importance of the form, and the importance of completing the form accurately. She is going to use the information you provide in a meeting with the payroll professionals to reinforce the importance of completing accurate Record of Employment forms.
The Record of Employement is an Official Form that you need to apply for Employment Insurance Benefits. It tells how long you worked & how much you earned with an Employer.
When you leave your job for whatever reason, your Employer must give you a Record of Employement within 5 days after your last day of employment.
Benefits & Importance of ROE:-
1.) It is the single most important document used by employees in establishing a claim for Employment Insurance Benefits.
2.) ROE is also useful to determine whether a person is eligible to receive Employment Insurance Benefit, what the benefit amount will be and for how long the benefits amount will be paid.
3.) A lack of such important information can hinder both the growth of the business & development of individual employee, so everyone benefits from the accurate, upto date records.
Importance of completing the form accurately:-
The ROE Form is Completed by Employer whether electonic or paper which helps employees in receiving insurable earnings who stop working & experience an interruption of earnings.