309. Where the difference between the salaries or wages actually paid for a year by an employer in an establishment and the estimate he furnished for the same year in accordance with section 292 is greater than 25 % of the estimate, the Commission shall charge him the interest on the difference between the amount of the assessment that he should have paid and the amount that he did pay, from 15 March of the year for which the insufficient estimate was filed or, where such is the case, from the sixty-first day after the beginning of the activities of an employer contemplated in section 290.
Notwithstanding the foregoing, where an employer corrects his insufficient estimate before 31 October of the year for which it was filed and pays to the Commission the difference between the amount of the assessment that he should have paid for the year and the amount he did pay, the Commission shall consider the new estimate for the purposes of determining the percentage contemplated in the first paragraph if the employer substantiates the reasons for which he could not, at the prescribed time, make a sufficient estimate of the salaries or wages he estimated he would pay for the year.
1985, c. 6, s. 309; 1993, c. 5, s. 10.