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Your paycheck stub serves as proof of income and government agencies, lenders and landlords often request them to verify your earnings. A pay stub contains all your income information, so...
Getting a regular, steady paycheck is comforting. But whether you are paid monthly or weekly and whether you're a full-time employee or a freelancer, there are some things you should pay...
It's essential to verify that each of your pay stubs contains your correct name, tax deductions, Social Security number, vacation balance and pay rate.
For employees that are hourly, gross pay is calculated when the rate of hourly pay is multiplied by the total number of regular hours worked. If the employee has overtime hours, these are multiplied by the overtime rate of pay, and the two amounts are added together.
A salary statement, commonly called a payslip, pay stub, paystub, pay advice, or sometimes paycheck stub or wage slip, is a document received by an employee that either includes a notice that the direct deposit transaction has gone through or that is attached to the paycheck.
Some unions collect a percentage of each worker's pay (which may be limited to base wages only or include additional pay such as overtime income). Others collect a percentage of each worker's pay, but the percentage itself varies on a sliding scale (with lower-paid workers paying a lower percentage).
Companies of all sizes will have to reclassify workers who will now qualify for overtime pay — and make sure they track hours and pay them properly.
Retroactive overtime (ROT) is an additional amount of money that is awarded when an employee has a combination of overtime and an additional amount of money, such as a commission or a bonus that is guaranteed based upon work requirements. Overtime is required to qualify for retroactive overtime.
Under the new rule, 27% of salaried workers would be entitled to overtime pay because they make less than the threshold, according to the Labor Department.
1. Tell the worker that because he earns a salary, he isn't entitled to overtime. Many employers and most employees think that, once you're paid on a salary basis, you lose your right to overtime...
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