Puerto Rico Annual Incentive Compensation Plan
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How to fill out Annual Incentive Compensation Plan?
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FAQ
Because Puerto Ricans are U.S. citizens, they have an advantage in competitive labor markets over foreign workers who require a visa in order to be employed in the U.S.A. U.S. companies need skilled tradespeople as well as entry-level workers who receive training on the job.
? PUBLIC LAW 87 AUTHORIZATION TO RECRUIT AND TRANSPORT ? It is unlawful for any person, any organization, or the agent of a person or organization, to recruit or transport laborers for employment outside Puerto Rico without authorization by the labor secretary.
The total amount of bonuses required to be paid by an employer will not exceed 15% of its profits derived during the qualifying period.
Furthermore, there are various types of leave of absence and protections against discrimination provided by statutory laws. It is important to note that as an unincorporated territory of the United States, federal labor and employment laws also apply in Puerto Rico.
The FLSA applies to employment within any state of the United States, the District of Columbia or any territory or possession of the United States. An employee working in a foreign country is not protected by the FLSA even though the employer has its main office in the United States.
Overtime Pay Puerto Rico labor laws regarding the payment of overtime are more favorable to workers that the federal overtime laws and require: time and a-half the regular hourly rate be paid for all hours worked over 8 hours per day. double time on statutory rest days; double time for hours over 40 per week.
The Minimum Wage, Vacation, and Sick Leave Act of Puerto Rico (Minimum Wage Act) was enacted in 1998. The Minimum Wage Act establishes that the federal minimum wage fixed by the Fair Labor Standards Act (FLSA) applies automatically to non-exempt employees in Puerto Rico who are covered by the FLSA.
It is provided that every employer who employs 15 employees or less for more than 26 weeks within the 12-month period from the 1st. October of any year until September 30 of the following calendar year will grant a Christmas bonus equivalent to 3% of the total maximum salary of $10,000.