Each state sets its own minimum wage, which may be higher than the federal minimum wage. On Jan. 1, the minimum wage increased in 20 states.
Federal Minimum Wage Effective July 24, 2009, the federal minimum wage is $7.25 an hour for coverednon-exempt employees, meaning employees who are covered under the FLSA.1Employers in covered employment categories cannot pay their employees less than $7.25 per hour. ...
Minimum wage is the lowest rate of payment which an employer may pay his employee. This is mandated by law to all employers, violation of which may...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your ...
For example, California’s minimum wage is significantly higher than the federal rate, reflecting the state’s higher cost of living. When state or local minimum wages exceed the federal minimum, employers must pay the higher rate. Staying updated on these changes is crucial to avoid legal issue...
In the People’s Republic of China, the country’s federal law for a minimum wage has recently been elevated to 2100 Renminbi ($302.30 USD); however, it is incumbent upon local governments to rate their own baseline compensation, so long as it conforms with the federal governing principles....
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A minimum wage is a legally mandated pay floor for non-exempt, hourly employees, and several different types exist — federal, state, and local. The highest applicable minimum wage in any given area takes precedence.
The federal tipped minimum wage is currently $2.13. This applies to employees who earn more than $30 in tips per month. Individual states can also have minimum wage laws for tipped employees. Check your state’stipped minimum wagelaws to learn more. ...
minimum wages can affect a company’s profitability if the job performed has less marginal value than the hourly rate paid. In the U.S., National Minimum Wage is called Federal Minimum Wage. This rate is approved by Congress and the current rate is $7.25. This rate is mandatory for any ...
The minimum wage is the lowest hourly rate that an employer can pay an employee according to law. Many states haveminimum wagesin place. But the federal minimum wage hasn't increased since 2009, despite many attempts to do so. The discussion around increasing the minimum wage brings both ...