New PAID program from US Department of Labor gives employers a second chance to get their reporting right.
Keeping accurate overtime and minimum wage calculations can be hard to do. If you think you may have made mistakes when making overtime and minimum wage payments, now may be a good time to fix them. The Department of Labor has a new program that helps companies figure out if they have made mistakes, and fix them, before it becomes a big problem.
A recent article on The Hill explains:
“Today, the Department of Labor announces a new pilot program: the Payroll Audit Independent Determination (PAID) program. The PAID program will ensure that more employees receive the wages they are owed faster — without having to wait for court cases to resolve and potentially lengthy investigations to conclude.
Under the PAID program, employers are encouraged to conduct audits and, if they discover overtime or minimum wage violations, to come forward. Employers that self-report may work in good faith with the Wage and Hour Division to correct their mistakes and provide due compensation to their employees in an expedited manner.”
Read more at thehill.com
Learn more about the PAID program at dol.gov
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