Massachusetts Employee Agreement Incentive Compensation and Stock Bonus
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How to fill out Employee Agreement Incentive Compensation And Stock Bonus?
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FAQ
Because commissions are considered wages under the Massachusetts Wage Act and bonuses are not, it is important to understand the difference.
Tip pooling laws in Massachusetts forbid owners and employees with managerial responsibility from sharing in tips or the proceeds of any employer mandated service charge paid by customers.
For instance, a salesperson earning a percentage of each sale is receiving a commission. Whether it's termed as a commission or bonus doesn't matter; what counts is its function. If it functions as a commission, those amounts fall under the umbrella of "wages" and are subject to the Massachusetts Wage Act.
The salary threshold for a ?white collar exemption? is, in most cases, not less than $684 per week. Fact Sheet #20: Employees paid commissions by retail establishments who are exempt under section 7(i) from overtime under the FLSA, U.S. Dept. of Labor.
In Massachusetts, salaried employees have the option to receive their pay biweekly, twice a month, or monthly. Employers must pay wages within 7 days from the end of the pay period for employees working one to four days or seven days.
Funding obligations. ing to Massachusetts law, an employer must not only offer to its employees a group health plan, but it must also make fair and reasonable premium contributions to the plan or else pay an annual per-employee amount ? i.e., a "fair share contribution" ? to the state's healthcare trust fund.
In Massachusetts, salaried employees are protected by the Fair Labor Standards Act (FLSA) and cannot be expected to work more than 40 hours per week unless they agree to do so.
If an employee is exempt from FLSA and any state, local, or union overtime laws, then it is legal to work 60 hours a week on salary. Some employers do pay exempt employees for overtime work through time-and-a-half, bonuses, or extra time off.