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Labor burden. Labor burden is the actual cost of a company to have an employee, aside from the salary the employee earns. Labor burden costs include benefits that a company must, or chooses to, pay for employees included on their payroll. These costs include but are not limited to payroll taxes, pension costs, health insurance, dental insurance ...
Nonfarm payroll employment is a compiled name for goods, construction and manufacturing companies in the US. Approximately 80% of the workforce is accounted for nonfarm payrolls [1] and it excludes farm workers, private household employees, actively serving military or non-profit organization employees. Approximately 131,000 businesses and ...
Payroll. Handling payroll typically involves sending out payslips to employees. A payroll is a list of employees of a company who are entitled to receive compensation as well as other work benefits, as well as the amounts that each should obtain. [1] Along with the amounts that each employee should receive for time worked or tasks performed ...
Joint employment is the sharing of control and supervision of an employee's activity among two or more business entities. At present, no single definition of joint employment exists. Instead, various employment laws define situations in which joint employment may occur with respect to that law. An example is the Family and Medical Leave Act in ...
Two-tier system. A two-tier system is a type of payroll system in which one group of workers receives lower wages and/or employee benefits than another. [1] The two-tier system of wages is usually established for one of three reasons: The employer wishes to better compensate more senior and ostensibly more experienced and productive workers ...
Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their employees. [1] By law, some payroll taxes are the responsibility of the employee and others fall on the employer, but almost all economists agree that the true economic incidence of a payroll tax is ...
Stipend. A stipend is a regular fixed sum of money paid for services or to defray expenses, such as for scholarship, internship, or apprenticeship. [1] It is often distinct from an income or a salary because it does not necessarily represent payment for work performed; instead it represents a payment that enables somebody to be exempt partly or ...
Prevailing wage. In United States government contracting, a prevailing wage is defined as the hourly wage, usual benefits and overtime, paid to the majority of workers, laborers, and mechanics within a particular area. This is usually the union wage. [1] : 1. Prevailing wages are established by regulatory agencies for each trade and occupation ...