Managing salaries and wages of the employees, is one of the cautious tasks that a manager does at the end of every month. Most of the companies manage it through outsourcing, but it is good to handle it in-house that will comparatively save your unnecessary expenditure. If a manager fails to manage salaries and wages by the book, your employees lose their morale and start searching for other good opportunities. In fact, this might get legal and the company would be liable to handle allegations for implying inequitable and discriminatory employment practices in that case. On the flip side, a good manager can potentially manage the salaries according to the federal and state laws, keeping compensation and payroll practices in consideration. However, it is best to outsource your payroll to a payroll service provider as this will allow a manager/business owner to concentrate on other aspects of their business while being assured of payroll being managed well. A fully managed payroll service ensures that your Payroll is not only managed well but also ensures that payroll is in compliance with the HMRC rules and legislation.
Though salaries and wages are managed according to the FLSA specific rules, but it is not necessary that every employee who is appointed on salary basis, is exempted from overtime pay rules. There are a few laws which make employees liable to get paid for working more than eight or 10 hours each day. If you’re not clear about the classification of the exempt and non-exempt employees, don’t worry. The U.S. Department of Labour helps employers with all the technical guidance on classification issues. Alternatively, you can access DOL and get information to contact your local office to get necessary information regarding classification.
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