But, the hourly or non-exempt employee rarely has a base salary. Some employers guarantee hourly employees that they will pay them for a minimum number of hours worked. This allows the employees to plan financially, but it is not the same as receiving a base salary as exempt employees do.
An employee benefits package includes all the non-wage benefits, like insurance and paid time off, provided by an employer. There are some types of employee benefits that are mandated by law, including minimum wage, overtime, leave under the Family Medical Leave Act, unemployment, and workers compensation and disability.
Commission: Employer Benefits. Employers benefit from paying a commission to their employees because it means that they only pay the employee if there is a sale. This eliminates the burden of paying employees for work that does not result in sales.
A group health plan is an employee welfare benefit plan established or maintained by an employer or by an employee organization (such as a union), or both, that provides medical care for participants or their dependents directly or through insurance, reimbursement, or otherwise.
When a legal holiday falls on a Saturday, the employee is granted eight hours of floating legal holiday (prorated, if part-time). When a legal holiday falls on a Sunday, the legal holiday is observed and the UW System is closed on the Monday following the legal holiday.
The FLSA, with some exceptions, requires bonus payments to be included as part of an employee's regular rate of pay in computing overtime. Extra pay for working weekends or nights is a matter of agreement between the employer and the employee (or the employee's representative).
The biggest difference between a 401(k) plan and a traditional pension plan is the distinction between a defined benefit plan and a defined contribution plan. Defined benefit plans, such as pensions, guarantee a given amount of monthly income in retirement and place the investment risk on the plan provider.