Exam 3 CHP 15 Flashcards
An employment agreement stating that employment is for an indefinite period of time and may be terminated either by employer or employee.
Employment-at-will doctrine
When an employee is fired for reasons that are illegal, or if the firing breaches a contract or public policy.
Wrongful termination
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When employees are required to sign, as a condition of employment, an agreement that they will not recruit fellow employees for another company when they leave their current employer.
No raiding post-employment clause
Authorizes Congress to regulate Commerce with foreign Nations, and among the several States, and with Indian Tribes.
Commerce Clause
Laws that require employers to pay insurance premiums for injury and death benefits for employees.
Worker’s compensation statute
An unauthorized tort committed by a company’s employee in the course of his employment.
Course and scope of authority as a basis of employer liability
Establishes minimum wage, overtime pay, recordkeeping, and youth employment standards affecting employees in the private sector and in Federal, State, and local governments.
Fair Labor Standards Act
What is the salary before exempt from overtime?
$46,000
What is the tax percentage for Social Security?
6.2%
What is the tax percentage for Medicare?
1.45%
What percentage do the employer AND the employee contribute in taxes towards FICA?
7.65%
When the employee becomes the owner of funds in a retirement program.
Vesting
