posted by Administrator on Feb 11
The Delaware State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is:
Division of Revenue Withholding Division
820 N. French St.
Wilmington, DE 19801
302-577-8200
http://www.state.de.us/revenue
Delaware allows you to use the Federal W-4 form to calculate state income tax withholding.
Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In Delaware cafeteria plans are: not taxable for income tax calculation; taxable for unemployment insurance purposes. 401(k) plan deferrals are: not taxable for income taxes; taxable for unemployment purposes.
In Delaware supplemental wages are required to be aggregated for the withholding calculation..
You must file your Delaware State W-2s by magnetic media if you are required to file your federal W-2s by magnetic media.
The Delaware State Unemployment Insurance Agency is:
The Department of Labor
Division of Unemployment Insurance
4425 N. Market St.
Wilmington, DE 19802
302-761-8446
[http://www.delawareworks.com/Unemployment/welcome.shtml]
The State of Delaware taxable wage base for unemployment purposes is wages up to $8,500.00.
Delaware has optional reporting of quarterly wages on magnetic media.
Unemployment records must be retained in Delaware for a minimum period of four years. This information generally includes: name; social security number; dates of hire, rehire and termination; wages by period; payroll pay periods and pay dates; date and circumstances of termination.
The Delaware State Agency charged with enforcing the state wage and hour laws is:
The Department Labor
Division of Industrial Affairs
Labor Law Enforcement Section
4425 N. Market St.
Wilmington, DE 19802
302-761-8200
[http://www.delawareworks.com]
The minimum wage in Delaware is $6.15 per hour.
There is also no general provision in Delaware State Law covering paying overtime in a non-FLSA covered employer.
Delaware State new hire reporting requirements are that every employer must report every new hire and rehires. The employer must report the federally required elements of:
Employee’s name Employee’s address Employee’s social security number Employer’s name Employers address Employer’s Federal Employer Identification Number (EIN)
This information must be reported within 20 days of the hiring or rehiring.
The information can be sent as a W4 or equivalent by mail, fax or electronically.
There is a $25.00 penalty for a late report in Delaware.
The Delaware new hire reporting agency can be reached at 302-577-7171 or on the web site at [http://www.state.de.us/dhss/dcse/index.html] .
Delaware does not allow compulsory direct deposit.
Delaware requires the following information on an employee’s pay stub:
Wages due pay period dates hours worked for hourly workers itemized deductions
Delaware requires that employee be paid no less often than monthly.
Delaware requires that employees must be paid within 7 days after the end of the pay period.
Delaware payroll law requires that involuntarily or voluntarily terminated employees must be paid their final pay by the next regular payday or by mail upon request.
Deceased employee’s wages up to $300.00 must be paid to the surviving children under 21 custodian, surviving spouse, children 21 and over or the deceased’s parents (in that order) when a “Proper Demand” has been made.
Escheat laws in Delaware require that unclaimed wages be paid over to the state after five years.
There is no provision in Delaware law concerning record retention of abandoned wage records.
Delaware payroll laws allow for a tip credit against Delaware State minimum wage of $3.92 per hour.
In Delaware the payroll laws covering mandatory rest or meal breaks are: a 30-minute meal period during a 7 and one half-hour shift. Taking place after the first two hours and before the last two hours o the shift.
The Delaware law requires that wage and hour records be retained for a period of at least three years.
The Delaware agency charged with enforcing Child Support Orders and laws is:
Division of Child Support Enforcement
P.O. Box 904
New Castle, DE 19720
302-577-7171
[http://www.dhss.delaware.gov/dhss/dcse/services.html]
Delaware has the following provisions for child support deductions:
When to start Withholding? 7 days after first payday after receipt of order. When to send Payment? Payday. When to send Termination Notice? “Promptly” Maximum Administrative Fee? No Provision Withholding Limits? Federal Rules under CCPA.
posted by Administrator on Apr 6
It is a very known fact that businesses need people to work for them and since time immemorial, conflict has arisen from such a relationship. It is normally a peaceful co-existence but when external pressure strains the said relationship it can turn ugly for both parties. Recent events around the world has forced businesses to take extreme measures to stay afloat while employees in countries where there are more annual graduates compared to jobs available has been an ugly.
The recent economic crunch has highlighted the need for more control/oversight over businesses who may even sacrifice safety in exchange for profits. Some companies turn to illegal immigrants for the bulk of their workforce, allowing them to save a lot on costs. While others hire less that the best, sacrificing quality over quantity. China, the world’s biggest growing economy couldn’t shrug off the labor issues, resulting in clashes between the socialist government and the people they aim to represent.
The global economy has indeed re-shaped the way businesses deal with their employees and with more economic upheaval assured due to worsening economic problems, labor and businesses will continue to be one of the hottest topics around for discussion.
posted by Administrator on Jan 6
While it is a well accepted norm for businesses to have their employees put up a union which would allow better relations it is not always the best scenario as many a companies have learned. The union is the primary means by which the labor force deals with their employers in the best possible way, allowing for compromise that allows each party solutions that would otherwise end in stalemate.
Economics is the main issue and with upheavals in the global business arena, it is not easy to maintain good business relations. Many companies have suffered from ill managed labor/management relations ending in closure, loss for both parties. Businesses fight to stay afloat and their employees strive to survive. Conflict in the workplace in inevitable and when it does balloon out of control, even the labor branches of governments can find themselves overwhelmed by the problems leading to lengthy and costly court cases.
posted by Administrator on Apr 26
The Pennsylvania State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is:
Department of Revenue
Bureau of Business Trust Fund Taxes
Employer Tax Division
Department 280904
Harrisburg, PA 17128-0904
(717) 783-1488
http://www.revenue.state.pa.us/
Pennsylvania does not have a state form to calculate state income tax withholding.
Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In Pennsylvania cafeteria plans are not taxable for income tax calculation if used to purchase health or life insurance; taxable for unemployment insurance purposes. 401(k) plan deferrals are taxable for income taxes; taxable for unemployment purposes.
In Pennsylvania supplemental wages are taxed at a 3.07% flat rate.
You may file your Pennsylvania State W-2s by magnetic media if you choose to.
The Pennsylvania State Unemployment Insurance Agency is:
Department of Labor and Industry
Office of Employment Security
Seventh and Forster Sts.
Labor and Industry Bldg.
Harrisburg, PA 17121
(717) 787-7613
[http://www.dli.state.pa.us/landi/site/default.asp]
The State of Pennsylvania taxable wage base for unemployment purposes is wages up to $8000.00.
Pennsylvania requires Magnetic media reporting of quarterly wage reporting if the employer has at least 250 employees that they are reporting that quarter.
Unemployment records must be retained in Pennsylvania for a minimum period of four years. This information generally includes: name; social security number; dates of hire, rehire and termination; wages by period; payroll pay periods and pay dates; date and circumstances of termination.
The Pennsylvania State Agency charged with enforcing the state wage and hour laws is:
Department of Labor and Industry
Bureau of Labor Law Compliance
Labor and Industry Bldg., Rm. 1301
Seventh and Forster Sts.
Harrisburg, PA 17120
(717) 787-5279
http://www.dli.state.pa.us/
The minimum wage in Pennsylvania is $5.15 per hour.
The general provision in Pennsylvania concerning paying overtime in a non-FLSA covered employer is one and one half times regular rate after 40-hour week.
Pennsylvania State new hire reporting requirements are that every employer must report every new hire and rehire. The employer must report the federally required elements of:
Employee’s name Employee’s address date of hire Employee’s social security number Employer’s name Employers address Employer’s Federal Employer Identification Number (EIN)
This information must be reported within 20 days of the hiring or rehiring.
The information can be sent as a W4 or equivalent by mail, or fax.
There is a written warning penalty for a late report in Pennsylvania, $25.00 for later violations, and $500 for conspiracy.
The Pennsylvania new hire-reporting agency can be reached at 888-724-4737 or on the web at http://www.panewhires.com
Pennsylvania does not allow compulsory direct deposit
Pennsylvania has no State Wage and Hour Law provisions concerning pay stub information.
Pennsylvania requires that employee be paid on regular paydays designated in advance.
Pennsylvania requires that the lag time between the end of the pay period and the payment of wages to the employee not exceed fifteen days.
Pennsylvania payroll law requires that terminated employees must be paid their final pay by next regular payday (by certified mail if employee requests).
Deceased employee’s wages of $5,000 must be paid to the surviving spouse, child, parent, or sibling (in that order).
Escheat laws in Pennsylvania require that unclaimed wages be paid over to the state after three years.
There is no provision in Pennsylvania law concerning record retention of abandoned wage records.
Pennsylvania payroll law mandates no more than 45% of minimum wage may be used as a tip credit.
In Pennsylvania the payroll laws covering mandatory rest or meal breaks are only that minors under 16 must have 30 minutes rest after five hours of work.
Pennsylvania statute requires that wage and hour records be kept for a period of not less than three years. These records will normally consist of at least the information required under FLSA.
The Pennsylvania agency charged with enforcing Child Support Orders and laws is:
Bureau of Child Support Enforcement
Department of Public Welfare
P.O. Box 2675
Harrisburg, PA 17105-2675
(717) 787-1894
* http://www.pachildsupport.com/
Pennsylvania has the following provisions for child support deductions:
When to start Withholding? First pay period after 14 days from service. When to send Payment? Within 7 days of Payday. When to send Termination Notice? “Promptly” Maximum Administrative Fee? 2% of payment. Withholding Limits? Federal Rules under CCPA.
Please note that this article is not updated for changes that can and will happen from time to time.
posted by Administrator on Feb 17
Suppose you have a small business that has just taken off sometime back. It is also doing quite well and you have brilliant plans for expansions that you are confident will work. However you have human and financial resources that are tied down due to the daily operations of the business and that makes it impossible to concentrate on the core business and plan future strategies for growth and expansions. Accounting can be one such division which although very crucial in nature can end up blocking a major chunk or resources. This is the reason why more and more companies are going in for accounting outsourcing that helps to save both time and money for the company.
Accounting outsourcing forms a part of corporate dismantling and reorganizing the finance structure for more enhanced efficiency which in turn increases the profitability of the organization. It involves the reorganization of the labor force within and outside the company. Accounting outsourcing involves a two-way information interchange, trust and co-ordination between the client and the vendor. The organizational function of accounting is outsourced to a third party who in turn prepares the accounts records and offers financial consultancy and accurate, up-to-date records on a daily basis to the client. In the global marketplace accounting outsourcing is easily accessible to companies both national and international.
Accounting outsourcing also fares well for the economy of the country where it is being outsourced as it provides employment to many qualified professionals. Accounting outsourcing also helps an organization to formulate competitive strategies that gives leverage to their financial positions in the world market place. By freeing up essential resources of a company and yet ensuring that it receives accurate financial data for reference and use, an accounting outsourcing firm manages to raise its demand in the competitive business world. The huge benefits offered to the parent company in terms lower labor costs and less stringent worker right laws makes the option of accounting outsourcing very tempting to all global companies. The quality of work handed in by the accounting outsourcing firm is also at par with the standards set by the management and consumers in case a reputable vendor has been hired.
Also when hiring a firm for handling the accounting outsourcing services in a different country a business needs to undergo careful research about the credibility and credentials of the company. Past reference from similar firms in the industry and a proof of previous track record can reassure the client about the vendor. Accounting outsourcing also enables a firm to purchase intellectual capital of the country that is handling the outsourcing work. Most organizations consider outsourcing as a powerful business tactic and economic tool for developing products and services. Rather than making further investments in resources for the accounting division a business can redirect the resources to other essential areas for the business. Most economists across the world do not consider accounting outsourcing as threat to the parent company’s nation and economic status; rather it’s just a job relocation. When an assured accountability is maintained from the vendor and the client’s side, accounting outsourcing can work out to be a winning situation for all parties involved.