Overtime pay is calculated by multiplying the hourly wage of an employee by 1.5. Federal law sets the standard working week at 40 hours, so any time worked past this point is considered overtime. However, some employees are exempt, typically those on a salary or fixed wage.Know More
It is important to note that employees who work overtime are only paid more for the number of hours worked past the 40-hour mark. The first 40 hours that an employee works is still paid out at the regular rate. The Wage and Hour Division of the U.S. Department of Labor oversees overtime pay and related working conditions through the Fair Labor Standards Act. Employees who are exempt from overtime pay are reviewed on a case-by-case basis.
Overtime pay is not awarded for work completed at night, on holidays, or over the weekend. The rates for working during these times are handled between the employer and the unions. The FLSA stipulates that employers must keep detailed records of all wage payments to employees, including overtime pay. If an audit is conducted on a company's books, the employer must be able to show that FLSA standards were followed for allocating overtime pay. Finally, some state laws regarding overtime pay are stricter than those of the federal government. In this case, the more stringent law must be followed.Learn more about Salaries
According to Horowitz, Horowitz & Associates, the value of a claim under the Illinois Workers' Compensation Act is calculated based on five factors: the reported level of impairment, the occupation of the injured employee, the age of the employee at the time of the injury, the employee's future earning capacity and the evidence of disability in the medical records. No single factor can be used to calculate a value.Full Answer >
Schedules for federal civilian employee wages and salaries can be obtained through the United States Office of Personnel Management (OPM) and Defense Civilian Personnel Advisory Services (DCPAS) websites. Depending on the job classification, the wage and salary schedules are available in HTML format or downloadable Adobe Acrobat PDF files as displayed through the relevant links on the OPM and DCPAS websites.Full Answer >
Nannies are paid hourly or weekly wages based on full-time or part-time employment, along with optional health insurance and periodical vision or dental check ups. Nanny salaries are usually paid along with taxes.Full Answer >
Military retiree pay is calculated based on either the Final Pay, High 36 or Career Status Bonus plan, notes Military.com. Period of tenure in the military and years of active service dictate what plan applies to each specific retiree.Full Answer >