Payroll

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Author:
Elliott108nl
ID:
231689
Filename:
Payroll
Updated:
2013-09-06 16:05:57
Tags:
Laws Payroll Taxes
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Description:
Summarizes laws relating to work and employment.
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  1. What is Fair Labor Standards Act?
    • Min wage = $7.25 / hour,
    • State & Fed, then take higher of the two,
    • Pay periods, rest, meals, lodging, uniforms, etc.
  2. What is Fed Insurance Contributions Act (FICA)?
    • Tax on EEs and ERs ,
    • Social Security & Medicare.
  3. What is Fed Unemployment Tax Act (FUTA)?
    • Tax on ERs used to pay state and Fed unemployment program.
    • SUTA used to pay state unemployment benefits.
  4. What is Civil Rights Act of 1964?
    Establishes Equal Empl Opportunity, forbiding discrimination re: hiring, firing, compensating, based on race, color, religion, gender, or natl origin.
  5. What are Executive Orders?
    If ER not covered by Civ Rights Act, has a contract with US Govt. Fed govt has banned discrimination on fed contracts based on race, color, religion, gender, or natl origin.
  6. What is Age Discrimination in Employment Act of 1967?
    Prohibits ERs from disctriminating based on age. Provides protection for all workers over 40. ERs must keep records.
  7. What is Fed Personal Responsibility and Work Opportunity Reconciliation Act of 1996?
    All states must establish new-hire reporting programs. Name, address, SS #. 

    Helps in enforcement of child support. Reduces fraud in unempl, workers comp.
  8. What is Immigration Reform & Control Act of 1986?
    Bars ERs from hiring unauthorized aliens. ERs must file I-9 form on aliens hired.
  9. What is Family and Medical Leave Act of 1993?
    • Requires ERs to grant workers unpaid leave for family medical emergency for as many as 12 weeks. 
    • ERs can exempt:
    • highest 10% earners
    • those who haven't worked a year.
  10. What is Employee Retirement Income Security Act (ERISA) of 1974?
    • Iff Co, has a pension fund, all EEs over 21 who have worked for 1 year must have pension.
    • Vesting - right to share in retirement fund even if terminated before retirement age. Once vested, EE has right to receive pension even if not working for firm at that time.
  11. What are Workers Compensation Laws?
    • Protects EEs and dependents against losses due to work-relate injury, illness or death. 
    • Rate variable depending on exposure of EE. Office worker less than machine worker.
  12. What is Payroll Register?
    Multicolumn form used to assemble and summarize data at end of each payroll period. Provides detailed listing of Co's complete payroll for that period.
  13. What is EE Earnings Record?
    • Provides complete info about accumulated earnings of each EE. 
    • ERs use EE earnings record to prepare Form W-2, Wage and Tax Statement.
  14. What is Social Security?
    • Benefits paid to retired workers.
    • EE and ER must contribute to taxes while employed.
    • Aka: OASDI.
  15. What is Medicare?
    • Medical health insurance for retired workers. 
    • EE and ER must contribute while working.
  16. What are Federal Income Taxes?
    Taxes withheld by ER based on %age of gross pay.
  17. What is the Americans with Disabilities Act of 1990 (ADA)?
    • Prohibits ERs with ≥ 15 EEs from discriminating against  qualified persons with disabilities because of their disability.
    • Accommodations for disabled must be provided.
  18. What is the Walsh-Healey Public Contracts Act of 1936?
    Provides minimum wage for all laborers on US govt contracts ≥ $10k.
  19. What about ER drug testing of new EEs?
    • ERs can consult state laws. 
    • Can be used in limited situations.
  20. New hire Reporting
    • Successful applicant notified of starting date, time, where to report. Hiring notice is sent to Payroll Dept to add him to payroll. 
    • Info is pay rate, SS#, nr of WH on W-4 .
  21. What is Workers Compensation Insurance?
    Insurance paid to workers injured, ill, or die on the job.
  22. What is Temporary Disability Insurance (TDI)?
    • Provides for workers in case of illness or pregnancy outside of work
    • Gives up to 26 weeks. 
    • FOr pregnancy, 6 weeks, but can add another 6 weeks with FMLA. 
    • You get a %age of salary, and ERs can supplement with vacation, sick leave, etc.
  23. HR pre-hire questions?
    • Personal info,
    • Educational background,
    • Employment experience,
    • Type of work sought,
    • References.
  24. Not allowed pre-hire questions:
    • Civil rights laws re:
    • race, color, religion, gender, natl origin, or age.
    • (Are allowed if are bona fide occupational qualifications.)
  25. Not allowed Testing of pre-hires:
    • Aptitude tests,
    • Psychological tests,
    • Allowed to ask for age, but must then include stmt that ADEA prohibits age discrimination.
  26. HR Investigative Consumer Report
    • Contains info about character, reputation, mode of living. 
    • ER must notify in writing that this is being sought.
  27. HR Application Form
    • Personal info,
    • Education background,
    • Work experience,
    • Type of ee desired,
    • References.
  28. HR Hiring Notice
    • Personal info,
    • Start date, 
    • Pay rate,
    • Nr of withholding allowances on W-4.
  29. Payroll Register
    • Contains info on all EEs pay rates, gross pay, deductions, net pay for pay period and YTD. 
    • Used for:
    • General Journal entries,
    • to prove satisfaction of FLSA.
  30. What is EE Earnings Register?
    • Payroll info on each EE. 
    • Info for each pay period and YTD. 
    • Used to prepare W-2.
  31. Form W-2
    Amount of wages paid to each worker. ER must provide to EE at end of year.

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