July 5, 2017 (Ngerulmud, Palau) A bill to require businesses grossing $50,000 a year to provide for overtime and holiday pay assessed as one and half times the rate of pay per hour. [restrict]
The bill findings state that OEK finds that “the employees specified in Title 13 should be fairly compensated for hours worked beyond a full forty hour work week”.
It also states that it is mindful that the “additional cost for employers may be burdensome for small business” and set level for companies making $50 thousand annual gross revenue and over to comply with overtime and holiday pay requirement.
The bill sets civil penalty for companies not complying of $500 for each violation and entitles employees of up to $1,500 for punitive damages.
The bill exempt companies grossing below $50k and employers engaged in fishing and farming.
The bill passed first reading and referred to House JGA Committee on July 5, 2017.
The bill seeks to help employees receive fair compensation but exempts employees of businesses with less than $50K gross annual income and farmers and fishermen from fair compensation. [/restrict]