which raises the salary threshold level for the various overtime exemptions under the Fair Labor Standards Act (“FLSA”). The DOL explained in anews releasethat this Rule would expand overtime protections “to lower-paid salaried workers.” As set forth below, the Rule...
This measure, which concepts such as the workweek, exempt, nonexempt, hourly, and salaried come from, is enforced by the U.S. Department of Labor. FLSA provides employers and employees with the information they need to understand minimum wage, overtime, child labor and recordkeeping ...
First, the type of work exempt employees perform is difficult to standardize to any time frame and cannot be easily spread to other workers and 40 hours in a week making enforcement of the overtime provisions difficult and generally precludi...
Exemption under Section 10 (13A) on House Rent Allowance House Rent Allowance (HRA) is a salary component of almost all salaried employees provided by the employer to meet the rent of accommodation of the employee. This HRA received from the employer is exempted from tax in the hands of the...
Form 12BB – New form for Salaried to claim tax exemption Every December to February,employers ask their employees to submit income tax investment proofsalong with LTA/HRA proofs. The problem there is no standard format for the same. Each employer has different set of forms and asks for diffe...