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THE DEFINITION OF 'SALARY' Income

THE DEFINITION OF "SALARY". (d) Value of perquisites specified in sub-section (2) of Section 17 of the Income Tax Act. (iii) of clause (2) or proviso to clause (2) of Section 17. As per the Finance (No. 2) Act, 2004, the contribution made by the Central Government in the previous year to the account of an employee under the pension scheme in ...

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Salary legal definition of Salary

4. Salary is also applied to the reward paid for the performance of other services; but if it be not fixed for each year, it is called honorarium. Poth. Pand. h.t. According to M. Duvergier, the distinction between honorarium and salary is this.

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Salary - Wikipedia

According to European law, the movement of capital, services and (human) resources is unlimited between member states. Salary determination, such as minimum wage, is still the prerogative of each member state. Other social benefits, associated with salaries …

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Salary Law and Legal Definition | USLegal, Inc.

Salary Law and Legal Definition. Salary is financial compensation an employee receives for performing the job, and part of an employee compensation package. Salary can be on an hourly, daily, weekly, monthly, or yearly basis. Salary may also include overtime pay, bonuses, and commissions.

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Definition of Word 'Salary' [ Section 17(1)]

The above definition of word 'salary' U/s 17(1) includes the above mentioned items. These can be explained in following manner : Wages—any amount received by a person for work done or job rendered is called wages. It may be received under the name of 'Pay', 'Basic Pay', 'Salary', 'Basic salary' or …

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Fact Sheet #17G: Salary Basis Requirement and the Part 541 ...

employees practicing law or medicine. Exempt comput er employees may be paid at least $684 * on a salary basis or on an hourly basis at a rate not less than $27.63 an hour. Being paid on a "salary basis" means an employee regularly receives a predetermined amount of compensation each pay period on a weekly, or less frequent, basis.

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Salary | Definition of Salary by Merriam-Webster

Salary definition is - fixed compensation paid regularly for services. How to use salary in a sentence. ... according to the FEA, more than $10,000 less than the national average, ... Legal Definition of salary: fixed compensation paid regularly for services. Other Words from salary. salaried adjective.

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Salaries legal definition of salaries

According to M. Duvergier, the distinction between honorarium and salary is this. By the former is understood the reward given to the most elevated professions for services performed; and by the latter the price of hiring of domestic servants and workmen. 19 Toull.

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FLSA Coverage - The Online Wages & Hours, Overtime Pay and ...

Chamberlain, Kaufman and Jones is a law firm with a nationwide reputation in helping employees receive the wages they are due for all hours worked, specializing in overtime law specifically collection of unpaid overtime pay due under the Federal Fair Labor Standards Act (FLSA). The Fair Labor Standards Act is designed to insure that wage earners are compensated for overtime hours and provides ...

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Department of Labor (DOL) Salary vs Hourly Definition

The definition of salary pay in a nutshell: a salaried employee gets paid on the basis of a predetermined annual amount. That annual salary is divided between the employer's pay periods for the year, and the employee receives the same gross amount every paycheck (unless something changes, like a pay increase).

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Salary Definition & Meaning | Dictionary.com

Salary definition, a fixed compensation periodically paid to a person for regular work or services. See more.

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Fact Sheet #17G: Salary Basis Requirement and the Part 541 ...

These salary requirements do not apply to outside sales employees, teachers, and employees practicing law or medicine. Exempt computer employees may be paid at least $684* on a salary basis or on an hourly basis at a rate not less than $27.63 an hour.

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Definition of SALARY • Law Dictionary • TheLaw.com

Legal definition for SALARY: A reward or recompense for services performed. 2. It is usually applied to the reward paid to a public officer for the performance of his official duties. 3. The salary of t

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3 U.S. Code § 102 - Compensation of the President | U.S ...

[References in laws to the rates of pay for GS–16, 17, or 18, or to maximum rates of pay under the General Schedule, to be considered references to rates payable under specified sections of Title 5, Government Organization and Employees, see section 529 [title I, § 101(c)(1)] of Pub. L. 101–509, set out in a note under section 5376 of ...

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Salary vs Hourly: Everything You Need to Know

Employees are classified by salary versus hourly and by the kind of work they do. A salaried employee is defined as a worker who receives a fixed amount of compensation paid weekly, biweekly or monthly. An hourly worker receives an hourly wage for their services. Federal and state employment laws require a classification of salary or hourly.

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Salary Definition Regulation - Texas

Salary Definition Regulation. Since the most frequently-requested overtime exemption regulation is the one defining what a true salary is, it is presented here in its entirety for the convenience of employers who need to see the full definition as adopted and enforced by the U.S. Department of Labor. Following is the text of 29 C.F.R. 541.602:

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