Indiana Approval of performance goals for bonus
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How to fill out Approval Of Performance Goals For Bonus?
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FAQ
Sec. 4. As used in this chapter, "full-time employee" means an individual who is employed for consideration for at least thirty-five (35) hours each week or who renders any other standard of service generally accepted by custom or specified by contract as full-time employment.
A performance bonus is a form of additional compensation paid to an employee or department as a reward for achieving specific goals or hitting predetermined targets.
California Labor Laws and Bonuses All earned bonuses are treated as wages under California Labor Code Section 200. These bonuses are ?earned? as part of an employment contract, work performance policy, obligation, or an understanding between the employer and employees.
sum Discretionary Bonus payment(s) of up to $1,500 for a part time employee and $5,000 for a staff employee in a fiscal year may be considered. Under exceptional circumstances, the President or a Vice President may approve a higher amount.
Spot bonus payments are delivered after the fact, based on a supervisor's judgment of performance and the warranted reward. It is discretionary in nature and may not be used to incentivize an employee in advance of performing the work.
There are no state laws regarding breaks or meal periods, so federal law applies. The federal law does not require employers to provide breaks, but if they choose to do so, breaks less than 20 minutes must be paid. Meal periods do not need to be paid as long as the employees are free to do as they wish.
Unpaid commissions fall under Indiana's definition of general wages. Wages include all compensation for labor or service whether or not you're paid hourly. If you're paid by the job, by commission or by any other calculation, your reasonable and usual calculations for payment are wages under Indiana law.
?Wages? are generally paid on ?a regular periodic basis for regular work done by the employee,? as distinguished from irregular payments or an annual bonus. If the compensation is the only form of pay to the employee, it is probably ?wages.?
