Compensation
When you are an employer, you deal with compensation issues on an ongoing basis. While the mechanics of paying your employees might not seem that difficult, you have to ensure that the amounts you pay your employees each payday are correct and in compliance with federal and state wage and hour laws. This portion of the Employment Regulations guide helps you understand what you need to know regarding the following compensation issues:
- Compensation laws. You must comply with the minimum wage and overtime pay laws as well as the Fair Labor Standards Act (FLSA) where it applies. Special rules apply to exempt and nonexempt workers, tipped employees, and homeworkers.
- Your compensation structure. Continuing compensation issues include providing competitive pay, linking pay to performance and pay compression.
- Government mandates. The equal pay act and what it requires and child labor requirements.
- Paying your employees. Making deductions from pay, docking pay, garnishing wages, determining how often you must pay employees, establishing a pay period, calculating employee hours worked and tracking the hours worked.
- Complying with compensation laws. The records you must keep, how long you must retain payroll records and the payroll information you should provide to your employees.
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