JULY 28, 2016: Businesses that are found in violation of federal occupational safety and health laws will pay more in penalties starting Aug. 1.

Under a law passed by Congress last year, penalties that were last adjusted in 1990 are going up nearly 80 percent to account for inflation.

The maximum penalty a company must pay per violation is rising to $12,471 from $7,000. If a company fails to correct a violation, it will face a maximum penalty of $12,471 per day as well, also up from $7,000.

If a company is found to have willfully or repeatedly violated occupational safety and health laws, it can be face a maximum penalty of $124,709 per violation, up from $70,000.

The penalties will now be adjusted annually for inflation.

Many employers with more than 10 employees are required to keep a record of serious work-related injuries and illnesses, although certain low-risk industries are exempted. Minor injuries requiring first aid only do not need to be recorded.

Employers must maintain the records for at least five years and each year between February through April, employers must post a summary of the injuries and illnesses recorded the previous year.

Starting in 2017, many employers will be required to electronically submit the summary of injuries and illnesses to OSHA.

Under new rules adopted in 2015, employers must report any worker fatality within 8 hours and any amputation, loss of an eye or employee hospitalization within 24 hours.

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