Hello all,
Is there a way to conviently provide salaried employees overtime pay beyond 40 hours or PTO compensation time for those hours?
In the past when I worked for large corporations, we were “salary exempt” employees but still received either PTO hours to be used later, or our hourly rate as overtime pay. But not exactly sure how this was executed on the financial/business side.
I’ve heard of establishing a second company to pay those employees “hourly” whenever they go beyond the 40. But that doesn’t seem like it would be the easiest option.
We are a government contractor, so we do track hours against each project.
Thank you!
The federal government for its employees issues credit hours that is in a separate pot from PTO. You can accrue a maximum of 24 hours of credit hours at a time and it expires within a year of earning it.
If you are traveling there is a separate pot of hours Travel comp time. There is no cap on the number of hours you can earn at a time but it expires 1 year after earning it.