2 part question:
1) My manager told me that by law in California, part-time workers are allowed 1,000 hours to work. I exceeded 1,000 and was told the rest would be counted towards my bonus. Otherwise, it would affect my employer's pension plan.
I looked at my pay check and noticed that they still took off taxes. I was wondering what the correct procedure is for my situation. Should the exceeded number of hours be counted as "overtime" pay?
2) When does overtime pay come into affect? I'm not sure if it only applies to full time workers.
For instance, I work 20 hours per week. If i were to exceed 20 hours in a given week, does overtime pay affect me?
2006-12-29 18:19:17 · 7 answers · asked by futureCPA 2 in Business & Finance ➔ Careers & Employment
The first link goes to an article, released in October 2006, which discusses who must be paid overtime in California.
FLSA (Fair Labor Standards Act) dictates that anything over 40 hours in a work week shall be considered Overtime.
You had not described the particulars of your job - do you work for a federal contractor? is there a union?
It would be interesting to find out the results of your situation.
As far a bonus being taxed - the second link will bring you to an article that talks about the different types of bonuses and how they are handled for reporting and taxes.
I don't understand the pension part. Not all pension plans are designed or administered the same way, so I would suggest reading your pension plan to see how the monies are collected, what types of pay it can be collected from, and any minimums/maximums. In our company, for our contracts that have unions, there is a certain amount paid to the employee's pension (by the company) based on the number of hours worked. It doesn't have anything to do with them being full-time or part-time.
2006-12-29 19:04:27 · answer #1 · answered by Lucy_Fur 3 · 0⤊ 0⤋
Overtime only applies to an employee that works over 40 hours per week. I heard they are trying to increase that to 45 hours a week though. But for now, any thing over 40 hours you should get paid time and a half.
2006-12-30 02:22:49 · answer #2 · answered by Nette 5 · 0⤊ 0⤋
Overtime pay is only applied when you exceed 40 hours of work in a one week span, regardless of your full-time/part-time status. Overtime pay may also be given for working "holidays", but that is solely at the employer's discretion, and not required by law.
Any money you earn, whether it is regular hourly rate, overtime, or bonus pay, is taxable.
2006-12-30 02:22:44 · answer #3 · answered by Anonymous · 1⤊ 0⤋
No, overtime pay is required for employees who work more than 40 hours in one week - and all pay is taxed, whether it's overtime pay or not. Part time status is considered 20 hours or less per week - 20 hrs for 50 weeks = 1000 hours per year.
Peace!
2006-12-30 02:23:56 · answer #4 · answered by carole 7 · 0⤊ 1⤋
overtime is after 40 hours in a one week pay period. i have heard that in some states they count the two week period so it would be over 80 hours in two weeks.
it sounds like the law in california might say that they have to change your pension status if your work over 1000 hours... so they could be taking advantage of this loophole in their bookkeeping....
call your local labor board to be sure.
2006-12-30 02:25:33 · answer #5 · answered by mellokittyx4 3 · 0⤊ 1⤋
Overtime usually starts after 8 hours and is time and half then after 12 hours its double time. But some employeers write it in your application that you chose to waive that option and dont pay you double time.
2006-12-30 02:22:43 · answer #6 · answered by Anonymous · 0⤊ 2⤋
Time after 40 hours is OT.
http://www.dol.gov/dol/topic/wages/overtimepay.htm
2006-12-30 02:23:41 · answer #7 · answered by Naemesees 2 · 0⤊ 0⤋