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The Minimum Wage: The Meaning Of The Minimum Wage

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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
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According to the web Find Law; “In order to have this exemption apply, the employee must regularly receive more than $30 per month in tips, and be allowed to keep all tips earned. The combined tips-plus-wages must add up to at least the $7.25 per hour minimum. If tips-plus-wages do not equal that minimum, the employer must make up the difference”.
Exemptions from Minimum Wage Requirements
The federal Law makes exemptions of Minimum wage to workers that have other types of employment as administrative, professional, executive, etc. Also, they provide this exemption to full time college students, workers of some farms, fishing enterprises, etc.
Overtime
The overtime is considered as extra payment of minimum wage, in the United States is 150% of the base time. Normally considered overtime after 40 hours of work per week in your case if you pay every 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
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