The Fair Work Commission’s Expert Wage Panel determined to increase the National Minimum Wage and Modern Award rates of pay by 2.4%. The new rates of pay will come into effect from the first full pay period on or after 1 July 2016.
Specifically, from 1 July 2016 the National Minimum Wage will be $672.70 per week or $17.70 per hour. The rates of pay in all Modern Awards will also increase by 2.4% and […]
The IRS has released temporary and proposed regulations clarifying that partners in a partnership that owns a disregarded entity (DRE) may not be treated as “employees” of the DRE (T.D. 9766; REG-114307-15). As a result, such partners are subject to self-employment tax on amounts received from the DRE and are not permitted to participate in certain tax-favored employee benefit plans.
Overview of the Regulations
The following example illustrates of the type of situation addressed by the […]
Employees are eligible for Gratuity at the end of completing a full years of service. This gratuity is calculated as 21 days of salary. Salary in this case excludes any allowances for housing or transport etc and considers only the basic salary of the employee.
Both the DIFC Law and the UAE Labour Law No. 8 of 1980 take an almost identical position on the issue of severance pay. The DIFC laws also calculate the […]