The minimum wage rate is the lowest hourly pay that can be awarded to workers, also known as a pay floor. The Fair Labor Standards Act (FLSA) determines the . Basic Minimum Rate (per hour): $10. The federal minimum wage for covered nonexempt employees is $7. Many states also have minimum wage laws. Sep Increasing the total annual compensation threshold for highly compensated.
Federal minimum wage. Jan The rates are minimum rates; an employer may choose to pay an employee at a rate higher than the rate(s) for its industry. Exempt employees must collect an annual salary that equals a minimum of $4per week. They cannot be paid an hourly rate.
Non-exempt employees are paid . The New York State minimum wage increased on December 3 2019. Are entitled to overtime pay at 1/times their regular rate of pay for any hours worked .
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