Issuing Final Payments?
“HR professionals must execute many tasks when employees leave the company by choice or are terminated. One of the most important items to get right is final payments to departing employees.”
It can get complicated, however, because the rules for last paycheck payments vary from state to state. For example, in California, final checks must be given upon termination or within 72 hours if the worker resigned. Whereas Florida has no laws regulating final payments when an individual is dismissed or quits – so businesses in these states may wait until the next regular payroll after an employee’s separation to issue the final paycheck.
“Violating state laws on final payments, even out of ignorance, can be costly for employers. In some states, if an employer fails to pay a departing worker within the legal time requirements, it may have to pay additional penalties and interest, along with any attorney fees and legal costs the employee incurred in seeking payment.” Avoid these costly mistakes and let HCM Unlocked handle your payroll processing needs.
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