which type of income is a fixed regular payment paid to an employee expressed in a yearly total??
www.patriotsoftware.com › blog › payrollTypes of Wages | Salary Wages Hourly Wages & More www.patriotsoftware.com › blog › payroll CachedOvertime wages. If you have nonexempt employees you must follow overtime laws. Under the Fair Labor Standards Act (FLSA) you are required to pay overtime wages to nonexempt employees who work more than 40 hours in one workweek. Retroactive pay. Retroactive pay is compensation that you owe an employee from a previous pay period. You may need to compensate employees with retro pay for a number of reasons including miscalculating the employee’s regular wages failing to pay overtime forgetting to account for a raise or neglecting a shift differential. Commissions. Commission pay is money an employee earns when they make a sale or accomplish another goal. You might give commissions as a percentage of a sale or a fixed amount depending on the sales volume. Bonus pay. You can choose to pay employees bonus wages which is money an employee earns in addition to their regular wages. You might give an employee bonus pay as a reward or gift.