Illinois Department of Labor Illinois Wage Payment and Collection Act (820 ILCS 115/1-16)

Slides:



Advertisements
Similar presentations
Home.
Advertisements

Paychecks and Tax Forms Take Charge of your Finances
Appendix D 1. Appendix D 2 Payroll Accounting Financial Accounting, Seventh Edition Appendix D.
G Personal Finance G  Almost 31% of an individual’s paycheck is deducted  Taxes are the largest expense most individuals will have 
Financial Accounting, Sixth Edition
Chapter 8 Income and Taxes.
Calculating Gross Earnings
Slide F 1. Slide F 2 Appendix F Payroll Accounting Learning Objectives After studying this chapter, you should be able to: 1.Compute and record the payroll.
H-1. H-2 Learning Objectives Record the payroll for a pay period. 1 Record employer payroll taxes. 2 Discuss the objectives of internal control for payroll.
Payroll Accounting Chapter 12.
Appendix on Payroll Accounting
Income and Taxes.  Salary – set amount of money earned by an employee per year or other fixed length of time  A portion of the salary is paid at regular.
Payroll Accounting, Taxes, and Reports
Copyright © 2008 Delmar Learning. All rights reserved. Chapter 18 Financial Management of the Medical Practice.
Chapter 21: managing payroll and inventory
1. Streamlines the UI claims process for employers faced with layoffs:  Permanent or temporary  Ten or more employees at one time 2.
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
F- 1. F- 2 F PAYROLL ACCOUNTING Accounting, Fifth Edition.
Overview Pay Frequency Payment on Separation Payment Methods Pay Statements Escheat Laws Deceased Employees.
NEW YORK STATE DEPARTMENT OF LABOR Shared Work Program Employee/Claimant Presentation.
CHAPTER 22 Employment Law
3.01 B Union, Union Shops, Employment at will, Unemployment, Social Security, Workers Comp.
Business Accounting Chapter 12. Importance of Payroll Records Required by law – keep accurate payroll records – report employee earnings – pay payroll.
INCOME TAXES (How much will you keep?)
Home. Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. What it is Standard: 6.0 The student will prepare payroll records, taxes, and.
TAXES AND SPENDING Obj. 4.01: Explain taxes on income.
G1 © Family Economics & Financial Education – Revised November 2004 – Paychecks and Taxes Unit – Understanding Your Paycheck and Tax Forms Funded.
Understanding Your Paycheck and Tax Forms
Keeping Your Job and Employee Pay Benefits. Becoming Employed.
SHOW ME The MONEY Just how much do you know about how people get paid?
Copyright 2005 Fair Labor Standards Act Mary Elizabeth Davis.
Payroll Terms & Concepts NCSC Product Certification Payroll Anytime, Anywhere!
WAGES AND INCOME TAX ( How much will you keep?). Employment Classifications Full-Time Full access to benefits & better pay Part-Time Fewer hours – benefits.
© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.Glencoe Accounting Computing Gross Pay Calculating Gross Earnings Section 12.1 gross.
Payroll Accounting Making Accounting Relevant Businesses issue payroll checks to their employees to compensate them for work performed. Making Accounting.
Labor Standards Pam Truitt  September 10, Key Regulations & Statutes  Davis-Bacon Act  Copeland Act (Anti-kickback Act)  Contract Work Hours.
Pay, Benefits, and Working Conditions
Goals List and describe the steps in the hiring process. Describe compensation packages for employees. Identify laws protecting employee rights. Slide.
Illinois Minimum Wage Law 820 ILCS 105/1-16. Coverage Covers all Illinois employers with four or more employees Family members are not included in sole.
Slide D 1. Slide D 2 Appendix D Payroll Accounting Financial Accounting, Seventh Edition.
Unemployment Insurance Workshop September 2015 Leah Reeder, UI Technical Services Specialist Tyler Smith, UI Technical Services Specialist.
Understanding Paychecks Where Does Your Money Go?.
H-1. H-2 Accounting in Action Learning Objectives After studying this chapter, you should be able to: [1] Compute and record the payroll for a pay period.
Payroll Accounting Making Accounting Relevant Businesses issue payroll checks to their employees to compensate them for work performed. Making Accounting.
Chapter Eight The Industrial Court
Procedures A workers’ compensation injury must be reported to the Third-Party Administrator (TPA) within 24 hours. The First Report of Injury Form is.
I-1 Prepared by Coby Harmon University of California, Santa Barbara Westmont College W ILEY IFRS EDITION.
Alberta Labour Laws CALM 20. Alberta Labour Laws Your Employer is responsible for: Giving you a Statement of Earnings. This includes: The pay period covered.
© 2010 Pearson Education, Inc., publishing as Prentice-Hall 1 EMPLOYMENT, WORKER PROTECTION, AND IMMIGRATION LAWS © 2010 Pearson Education, Inc., publishing.
Basic Goals of Payroll System  Prepare and issue payroll checks  Produce records for accounting purposes and reporting to government and management.
Employee Expectations Career Pathway Experience. Payments You can expect your employer to pay you for the work you do! –Employer should deduct income.
PAYROLL ACCOUNTING Chapter 12. Using a Payroll System  Payroll – list of the employees and the payments due to each for a pay period  Pay Period – the.
Payroll Unit Terms Write down as many payroll terms or payroll taxes that you can think of in 2 minutes. Ready, Set, Go!
1.3.4.G1 Paycheck Basics Take Charge Today Introductory Level.
Sammy Carolina What is Unemployment Insurance? Temporary Assistance paid through an employer paid tax. Paid into a fund to provide Unemployment.
Teresa Feagans Sr. Accountant Payroll & Employee Services.
Arizona’s Shared Work Program. The Shared Work Program:  Is an alternative to employers who are facing reduction in the work force.  Allows employers.
An overview of some of the basic rights and responsibilities of employees.
SHOW ME The MONEY Just how much do you know about how people get paid? UNIT 3 TAXES AND BANKING.
UCO Payroll and Human Resources Monthly to Bi-weekly Conversion.
 What is a pay cheque?  One of the most important documents you encounter regularly when living independently is your pay cheque. To be sure that mistakes.
My Paycheck Chapter 3. Types of Income Earned Income – Money received from working. Six types: wages, tips, salaries, bonuses, commissions, royalties,
Payroll Accounting Appendix F Learning Objectives
Understanding your paycheck
Pay, Benefits, and Incentives
Other Deductions From Pay
Paying the Employee.
Other Deductions From Pay
Presentation transcript:

Illinois Department of Labor Illinois Wage Payment and Collection Act (820 ILCS 115/1-16)

Illinois Department of Labor What the Act provides The Act provides three basic areas of protection to workers: Regulates the time of payment of wages, requires employers to pay by certain dates Prohibits unilateral/illegal deductions, cannot take money from your pay check Establishes requirements for final compensation, what you are entitled to at termination

Illinois Department of Labor All wages must be paid within: 13 days if paid bi-weekly or semi- monthly 7 days if weekly pay 24 hours if paid daily Wages of Executive, Administrative, and Professional employees as defined in FLSA may be paid monthly

Illinois Department of Labor Payments Must be in lawful money, check or cash – redeemable without discount Cannot require direct deposit Statement of deductions is required

Illinois Department of Labor Deductions prohibited All unilateral or unauthorized deductions are prohibited unless: * required by law, example taxes * to the benefit of the employee, union due, health insurance * voluntary written consent of the employee at the time the deduction is being made

Illinois Department of Labor Not allowed to deduct for: - damages - shortages - breakage - failure to return employer property,etc.

Illinois Department of Labor Final compensation Required at next regular pay day; not on day of exit Must calculate all earnings including pro rata vacation, commission and bonus Must make check available to separated employee for five days If employee fails to pickup upon scheduled pay day, then demands after the five day limit, employer has additional five days to re-issue

Illinois Department of Labor All Claims are filed in writing by individual employee information is shared through the mail with employer If employer pays, file is closed

Illinois Department of Labor Claims continued: Employer responds in dispute or disagreement, – file reviewed and a copy sent to the claimant – one of three things occur: – case is dismissed – case is set for hearing – automatic demand for payment is issued

Illinois Department of Labor Claims cont. If Claimant does not respond to employer’s disagreement statements: the case is dismissed! Important to let the agency know your correct address

Illinois Department of Labor If necessary: Informal Hearing is conducted. Case is dismissed or, Employer is demanded to pay. If employer fails to pay – case is referred to Attorney General, or – case is closed.

Illinois Department of Labor Call: For information