Minimum Wage and Overtime
We’ll discuss the Fair Labor Standards Act (FLSA), and its requirements for minimum wages and overtime pay.
This lesson will discuss minimum-wage and overtime requirements under the federal Fair Labor Standards Act, or FLSA. We’ll cover the basic rules first, followed by some important exemptions.
I. Minimum Wage
The federal minimum wage is set by statute and is currently $7.25 per hour. Two important exceptions involve tipped employees and newly hired employees.
Tipped employees, such as waitstaff, are employees who...