Minimum Wage And The Minimum Payment

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THE MINIMUM WAGE THE MEANING OF MINIMUM WAGE The minimum wage is the minimum payment to every worker is entitled, with which it has to meet their basic needs for both you and your family, which has been set at 8.38 for 2015 in the state of New Jersey. Although the objective of the minimum wage is to ensure coverage of basic needs for food, health, education, shelter, clothing and recreation worker, undoubtedly this will not meet its objectives, since the value of the minimum wage is not possible meet all these needs. For fixing of minimum wages should take into factors such as cost of living, working arrangements, the economic capacity of enterprises and the conditions of each region or economic activity. When considering the economic capacity of enterprises as a determining factor when fixing minimum wage, allows this can be fixed by mutual agreement between employers and unions, since the philosophy of the norm has been to make the interests of stakeholders and that are affected in one way or another with the minimum wage fixing, converge at a point that balances and leave everyone happy. In some states, the minimum wage has not been increased in the same proportion as the cost of living increases, so it has not really been an effective increase since the paltry increases granted, do not cover the loss of purchasing power of money in the last year. This has been a clear breach of the law contemplated in the sense that one of the factors for fixing the minimum wage is precisely the cost of living, that its effect on the quality of life of the worker must be the a predominant factor WHO DETERMINATES IT The minimum wage in the United States per hour, is established by the federal government with effect from July 24, 2009 is US ... ... middle of paper ... ...ry two weeks applies equally just that as you get paid every two weeks it took 80 hours, but it is exactly the same as if you worked 40 hours a week . If you work more than 40 hours per week must be paid overtime. For example, if Frank gets paid $ 10 per hour, automatically the overtime hours will get $ 15 per hour. Exemptions from Overtime Requirements This exemption is for employees who earn more than $455 per week, or $23,660 per year, compensated on a salary and if their jobs are:  Executive o Office or Non-manual work directly to the management. (Discretion and Independent judgment)  Learned Professional o Employee’s duties requires advanced knowledge in the area of science or learning. In other words, employees who received education at college or university  Creative professional o Involves Invention, imagination, originality or talent in the artistic area.
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