Being salaried does not automatically mean an employee is exempt; the FLSA requires a duties test and salary basis test. The minimum salary threshold for exemption under the FLSA is currently $684/week ($35,568/
A worker may be an independent contractor if you have the right to control or direct only the result of the work, not what will be done and how it will be done. If you control both what will be done and how it’s done, the worker is usually an employee. Determine if payroll deduct...
That may include cash back or travel rewards, employee cards, discounts on business-related purchases and the chance to avoid paying interest if you pay your balance in full each month. They’re especially useful for building business credit. Can I get a business line of credit with bad ...
A Roth 401(k) is an employer-sponsored investment account in which an employee contributes after-tax funds that may be withdrawn tax-free in retirement.
For example, if an employee is considering taking legal action against a business for wrongful termination or harassment, the company might agree to pay that employee a set amount of money in exchange for the release of the right to sue. An employee may also be required by an employer to ...
Data source: Employee reports Monster.com not only offers a vast array of job postings but also provides a salary calculator that calculates your estimated market value. All you need to do is enter your job type and location, then the calculator will present you with a graph showing how your...
a firm must maintain internal equity. By ensuring that workers are appropriately compensated for their contributions, regardless of their position or level within the business, compensation management is crucial to reaching this goal. It not only lowers the possibility of employee resentment or unhappine...
A key employee is defined as an owner or officer of a business. If key employees own more than 60% of the assets in a plan, it is considered top-heavy and corrective action may be required. “Failed tests usually either require an employer contribution to the non-highly compens...
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The benefits of generative AI include faster product development, enhanced customer experience and improved employee productivity, but the specifics depend on the use case. End users should be realistic about the value they are looking to achieve, especially when using a service as is, which has ...