The Davis-Bacon act requires employers working on construction projects to submit a weekly WH-347 report to the department of labor. This law protects employees from unethical employers, and employers in case of non-compliance will be subjected to a significant penalty. The time for creating payroll reports depends upon the number of employees working on federally funded projects. Companies having a large number of workers need to spend more time than those with fewer workers. Every form must include information of every employee, including:
- The name of each contracted employee
- The wages and benefits of each employee
- The type of work being done
- Weekly working hours
- Withholdings and gross wages
- A statement of compliance