Overtime. What is it? Either: A)Working over 8 hours a day Or B) Working over 44 hours a week *All employees must be paid overtime for overtime hours.

Slides:



Advertisements
Similar presentations
THE HUMAN RESOURCES DEPARTMENT
Advertisements

Higher Business Management
Overtime & Fair Labor Standards Act Revised December 2, 2009.
What is the major reason people work? Love of your job? To sharpen your soft skills? To meet new and exciting people? NO – to make money!!! Focus: How.
Presented by: April Underwood, Compensation Consultant Scott Shimoda, Compensation Consultant 2013 Fair Labor Standards Act (FLSA)
Chapter 2 Review Quiz. 1.What are exempt employees exempt from? C.Both A &B 2.A waitress is paid $2.25/hr and she receives tips, which aver $ week.
FAIR LABOR STANDARDS ACT TO INCLUDE FAIR PAY The Fair Labor Standards Act (FLSA), enacted in 1938, and amended to include the Fair Pay Act of 2004 is the.
SECTION 2 WORK The reward for work GCSE ECONOMICS: UNIT 11 Part One.
Wage Calculations.
Remuneration Unit 3 Topic Which is the best payment system ?
The Fair Labor Standards Act (FLSA) Employment Services
Gross and Net Pay. Gross Pay There are a variety of ways that you may be paid for a job. What are some of the different ways that you are familiar with?
Commissions, Royalties, & Piecework Pay
Choosing a job for a set of parameters and overtime pay.
 Love of your job? To sharpen your soft skills? To meet new and exciting people?  NO – to make money!!!  Focus: How to calculate different types of.
1 Press Ctrl-A ©G Dear2009 – Not to be sold/Free to use Salary, Wages & Commission Stage 6 - Year 11 Applied Mathematic (Preliminary General 1)
Chapter 23 Understanding Income and Taxes
SHOW ME The MONEY Just how much do you know about how people get paid?
Payroll Computations, Records, and Payment
Understanding Income and Taxes
Income. Income Is money you receive. Or a benefit in kind you receive. It can be regular or additional.
PowerPoint® Slides to accompany Basic Bookkeeping, Seventh Edition Prepared by JD Chazan CPA, CA National Taiwan University 10-1 Copyright © 2015 by Nelson.
Business & Management Methods of Payment How a firms method of paying their workers can influence motivation.
Payment Earnings Earnings include: Wages Over time pay Vacation pay General holiday pay Termination pay.
FLSA Training for Supervisors: Part IV
Concept #7.  What do you think you need to know before your first day on the job?
Working Arrangements: Contracts of Employment BTEC First in Business.
NS 5.1.2: Consumer Arithmetic Students learn about calculating earnings for various time periods from different sources, including: Wage  Salary  Commission.
1 What you will learn today 1. How to evaluate piecewise functions 2. How to graph piecewise functions 3. How to determine piecewise functions from a graph.
Consumer Decisions Earning Money.
Wages And Salaries What’s the difference?. Contents To answer the question “What’s the difference” the answer is simple… Wages are paid weekly, often.
The reward for work. How people are paid Salary (stated as yearly earnings but are usually paid monthly) – more likely to be skilled, non-manual occupations.
Look through these slides for more information. Types of contracts pay and professional practices.
Management Managing Employee Reward Systems Fair Labor Standards Act Minimum Wage Provision –$5.15 / hr. –Advantages - wage floor, min. standard.
Commission Another way of getting paid. Commission Commission is getting paid by a certain percentage. For example, a car sales woman might be paid 5%
Unit 4 Determining Gross Earnings McGraw-Hill/Irwin Copyright © 2006 The McGraw-Hill Companies, Inc. All rights reserved.
Pay Periods and Hourly Rates
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.
Payroll Accounting Making Accounting Relevant Businesses issue payroll checks to their employees to compensate them for work performed. Making Accounting.
Lesson 9: Salary Consumer Math: p Some people are paid a fixed amount of money regularly, no matter how many hours they need to complete their.
Chapter 6 Payroll.
1 Press Ctrl-A ©G Dear 2008 – Not to be sold/Free to use Overtime Stage 6 - Year 11 General Mathematics Preliminary.
WAGES AND SALARIES lc/pm1. 2 WAGES AND SALARIES It is important that employees are properly rewarded for the work they do. Employers’ ObjectivesEmployees’
Jeopardy Q $100 Q $100 Q $100 Q $100 Q $100 Q $200 Q $200 Q $200
Work environment  Do they work alone? What do they do? a) Driving..
Chapter 2 – Earning an Income 2.1 Wages and Salaries.
What is the difference between a wage and a salary?
Labour costs Methods used to calculate costs. Labour costs Labour costs can be made up as: – Basic pay – Overtime – Bonuses Additional costs could be.
Chapter 8 Beginning a New JobSucceeding in the World of Work What You Can Expect From Your Employer 8.2 SECTION OPENER / CLOSER INSERT BOOK COVER ART Section.
Tax Unit Study Guide for YTP 12 Semester 2 Final Exam.
Gross Earnings, Wages and Salaries Chapter 6: Payroll Section 6.1.
STUDENT LEARNER EXEMPTION FROM SECTION To perform prohibited occupations on a very limited basis: Student learners aged 16 & 17 must be enrolled.
EARNED INCOME #1 WHERE DO PEOPLE RECEIVE MONEY?  Working  Investments  Government transfer payments.
Taxes & Spending Calculating Gross Earnings 4.01A – Explain taxes on income. “We make a living by what we get; we make a life by what we give.” Sir Winston.
Changes to the Exemptions to the FLSA Overtime Pay Requirements Office of Human Resources and Workforce Diversity.
Cost & Management Accounting Labor Lecture-12 Mian Ahmad Farhan (ACA)
Alberta Employment Standards. Employment Standards are minimum standards of employment for employers and employees in the workplace. In Alberta, our employment.
Show Me the Money! Re-numeration and Pay Incentive Packages for Employees.
SHOW ME The MONEY Just how much do you know about how people get paid? UNIT 3 TAXES AND BANKING.
Department of Labor Regulations on Overtime. Fair Labor Standards Act – legislation that governs minimum wage and overtime Positions are considered hourly.
Earning Income How Can I Get Paid?.
Chapter 6 Pay, Benefits, and Working Conditions
Warm Up: You have a job at Foodland and get paid $11.50/hr. You work 4 hours each week. How much will your pay cheque be after 2 weeks? -When finished.
Payroll Accounting $ $ $ $ Making Accounting Relevant Chapter 12
How to calculate Commission.
PAYMENT SYSTEMS SLIDE 7.
Understanding Income and Taxes
The Fair Labor Standards Act: New Overtime Rules
Who to Hire & What to Consider
©2009 – Not to be sold/Free to use
Presentation transcript:

Overtime

What is it? Either: A)Working over 8 hours a day Or B) Working over 44 hours a week *All employees must be paid overtime for overtime hours worked.

How Much is it? Overtime must be paid at : 1.5 times the regular wage Example: regular wage of $9.75/ hr Overtime= 1.5 x = $ $4.88 gives you -$14.63 /hr

Employee Exemption: Farmers Domestic workers Sales people ( land, real estate and insurance agents) Managers, supervisors People employed in a confidential capacity Instructors/ Counselors of non-profit org Municipal police officers Employees covered by other Acts ( academic staff) Extras in a film or video production Professionals (engineers, architects, lawyers, psychologists)

Why the Exemption? Some employees are not paid on a normal hourly rate. For example: people whose jobs pay them through commission, piece work, flat rate, mileage or incentive pay. In these situations minimum wage is used to for the purpose of calculating overtime.