In this case, if the employer pays a special allowance that is fully taxable, the salaried individual can substitute Rs. 1,600 per month as conveyance allowance and claim tax exemptions • For an employee that travels frequently, a competent authority can grant a consolidated travelling allowance to the employee. This allowance is granted in lieu of conveyance allowance or other types of travel allowances. The employee cannot draw this travelling allowance during leave, temporary transfer, etc. In addition to Conveyance Allowance, other types of allowance paid by employers to their employees include: • House Rent Allowance
b) Workforce Planning The number of employees of any department of any organization is always changing. Factors such as company growth and employee turnover challenge managers to make workforce planning decisions to maintain the necessary number of employees of the company. Companies must also decide how to allocate the employees. This process can be done through promotions, demotions and transfers to areas where they can contribute most significantly. At any point in time, some parts of an organization may be facing a shortage of employee talent, while others may have a surplus.
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.
Common words of the supporters of increasing the minimum wage are “It will help those in poverty.” If an employee worked 40-hour weeks, he/she will earn approximately $15,080 per year, slightly below the federal poverty threshold of $15,130. However, it is imperative to consider that most employees earning minimum wage work less than 40 hours per week. Therefore, more cha-ching is good! Right? It is important to know that state minimum wage laws may differ from federal minimum wage laws.
The Taxpayer Relief Act of 1997 raised the income-eligibility limits for taxpayers who participate in a 401(k) or are covered by some other employer retirement plan. Before the rules were liberalized by the 1997 tax act, a married couple above the income-thresholds could make deductible IRA contributions only if neither spouse was covered by a retirement plan at work. But this restriction was eased beginning with 1998 returns. If only one spouse is covered by an employer retirement plan, the other spouse will be eligible for at least a partial IRA deduction so long as the couple's joint income is below $160,000. If neither spouse is covered by an employer retirement plan, then both spouses can make deductible contributions to a traditional IRA, no matter how high their income.
The least thing to do is to get a good starting off minimum wage. If a lot of states are already raising their minimum wage, then most states are bound to do it too. It’s only a matter of time until congress changes the minimum wage. It wont stay like this forever. Works Cited http://www.dol.gov/elaws/esa/flsa/scope/ee2.asp http://www.dol.gov/dol/topic/wages/minimumwage.htm http://www.heritage.org/research/testimony/2013/06/what-is-minimum-wage-its-history-and-effects-on-the-economy http://www.dol.gov/whd/minwage/chart.htm http://www.gallup.com/poll/165794/americans-raising-minimum-wage.aspx
Currently, only 21 states have minimum wage laws that exceed the federal minimum. The other 29 sit at or below the Federal minimum (Minimum Wage Laws in the States). It is for these states, and the people in them, that it is important that we work together to raise the minimum wage to one that is fair for workers and their families. The current U.S. federal minimum wage for untipped workers is currently $7.25 an hour, as it has been since 2009. At this rate, a full time employee would earn an annual salary of $15,080, meaning that a family of two people, for example a single working mother with one child, working a full time minimum wage job, would sit below the federal poverty line of $15,730 for two people (2014 Poverty Guidelines).
In terms of paid time off, public sector employees are awarded substantial amounts of paid time off, including approximately 13 days of sick leave per year, 10 paid federal holidays and up to 26 days of paid vacation per year, contingent upon the number of years of service. Other trends in paid benefits are the option to work flexible schedules, otherwise known as Alternative Work Schedules (AWS). AWS options include compressed work schedules, Flext... ... middle of paper ... ... without the constraints of commuting far distances, thus saving money as well. Other benefits aligned with paid time off is sick leave awarded in 4 hour increments per pay period with no limit on accruals. Employees may use this time to attend medical appointments for themselves and dependents.
There are a few key pieces of information that are missing, such as income and whether or not this is a salaried position. However, the job description does list the title as staffing manager and requires that applicants have a bachelor’s degree and minimum of two years’ experience working with scheduling, hiring, and training. Based on the requirements I feel the position would pay more than the minimum requirement of $455 weekly. From previous experience regarding management wages I believe that this position would be a salaried
If the business is n... ... middle of paper ... ...t be at least minimum wage. The employer is required to pay the employee his overtime pay on the regular payday for the pay period in which the wages were received. An agreement made by an employee and employer does not wave overtime pay. It is also against FLSA compliance for an agreement to be made that 8 hours in a 40 hour work week will count as working time. Bibliography "About SHRM."