If company has more than one business listed under their primary company name, does that mean they only need to show a profit of $500,000.00 (including all businesses) or just the one that is definitely not paying overtime?
2006-06-19 06:43:14 · 9 answers · asked by sam_i_am0406 1 in Business & Finance ➔ Corporations
In the US, overtime pay is a requirement if people earn money by the hour (Such as: $10 per hour). As the person above me pointed out, overtime pay only applies if you work more than 40 hours with the same company. Salary is a set amount of money for each month. So if you are on salary, it doesn't matter how much you work. You are paid a certain amount per month and nothing else.
Another exception to overtime pay is commission. (Commission is money you make from selling a product). Salesmen only on commission get money from the sales they make. They aren't paid for their labor. Of course, rules vary for salesmen. Some salesmen (in addition to commissions) get paid by the hour or they get a salary. (And if they are paid by the hour, I suppose overtime rules apply to them). Some salesmen get only commission because the company is too poor to pay them any wages.
One thing that stinks about overtime pay is that the taxes are higher. It hardly seems fair, but that's the way it is.
2006-06-19 06:58:28 · answer #1 · answered by ☼Grace☼ 6 · 0⤊ 0⤋
I used to work a company which owned three radio stations. I once worked 90 hours in one week and was paid $6 an hour for every hour worked. They reasoned that because I was working in different stations they didn't have to pay me overtime but in fact what they were doing was breaking the law. Anything over 40 hours by law should be time and a half.
2006-06-19 06:53:01 · answer #2 · answered by synchronicity915 6 · 1⤊ 0⤋
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Is it illegal not being paid overtime after 40 hours?
If company has more than one business listed under their primary company name, does that mean they only need to show a profit of $500,000.00 (including all businesses) or just the one that is definitely not paying overtime?
2015-08-20 16:35:55 · answer #3 · answered by Afton 1 · 0⤊ 0⤋
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It's illegal for an employer to NOT pay you time and a half for any hours worked over 40 in one week. Some companies pay time and a half for anything over 8 hours in a day, but are not required to. It's against the law and the consequences would be fines and no employer wants that. If this is being done to you, then I would definitely report it to your states department of labor right away.
2016-04-01 08:55:40 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It depends on whether you are classified as exempt or non-exempt. If you are paid a salary, no overtime is req'd to be paid. However, if you are an hourly wage earner, overtime pay is required although it does not have to be greater than your hourly rate.
2006-06-19 06:50:32 · answer #5 · answered by extra_37 4 · 0⤊ 0⤋
Well if you are on salary I don't think you are entitled to receive overtime pay. If you being paid hourly you should get overtime pay. Not sure which you are!
2006-06-19 06:47:25 · answer #6 · answered by squashpatty 4 · 0⤊ 0⤋
It depends on the terms of the employment contract.
Edited to add: If they are not paying overtime to ANY employees, it's a matter for the Department of Labor.
2006-06-19 06:47:21 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Everyone has to pay overtime. The size of the business does not matter.
2006-06-19 06:45:51 · answer #8 · answered by ? 6 · 0⤊ 0⤋
yes
2006-06-19 06:46:55 · answer #9 · answered by cashmoneycuban 3 · 0⤊ 0⤋
I would say the answer to your question would be yes.
2006-06-19 06:46:23 · answer #10 · answered by bddrex 4 · 0⤊ 0⤋