A knowledgeable production payroll is crucial for a modern entertainment production like film, TV, web, or any other commercial content. The entertainment payroll services are effective for reducing the liability and overhead which will streamline the whole paying process for the client. Over the years the entertainment payroll partners have helped the global entertainment industry to avoid costly penalties and provide support for challenging regulations so that the production can focus on the job.
Why Do Entertainment Payroll Companies Matter?
1. Relief from a bundle of paperwork: Every time a production house hires a new cast and crew, there is a stack of paperwork that needs to be filled out. The digital payout services carefully organize and store all the documents online.
2. Understanding the legalities: A payroll company must have an understanding of the rules and regulations of the local unions and guilds. Every entertainment product wants a company that can manage the payroll with accuracy and timeliness.
3. Time-Saving: The entertainment payroll companies well know that the film industry doesn’t have to spend hours filling out paperwork. The law changes constantly and there are lots of federal, state, and union regulations that should be maintained effectively.
4. Protection of workers and the production: The responsible entertainment payroll services don’t just handle pay tax forms, they also provide a number of other services, providing protection to the production and the employees.
Fair Labor Standards Act (FLSA) to Entertainment Payroll
The Fair Labor Standards Act was enacted in 1938 to protect workers from being exploited. The act protects the rights of children and low-wage employees. The FLSA applies to the entertainment industry in the same way as other industries.
● Production companies and crew members who are covered by the FLSA’s minimum wage and overtime regulations are called non-exempt employees. In most cases, these employees must earn minimum dollar amounts per year. The FLSA also claims for the overtime pay requirements or bonuses which will not impact their fixed salary.
● Employees who are not covered by the minimum wage and overtime laws of FLSA are called exempt employees. The exemptions are based on the duties, responsibilities, and authority level of the employee.
● As per the Fair Labor Standards Act, all non-exempt employees must be paid 1 ½ times their regular rate of pay if they work over 40 hours in a week.
● If an employee of the entertainment industry is misclassified by a production company, it can face the scrutiny of its entertainment payroll services.
There are too many entertainments payroll services available in the market. But choose a payroll service that is for a long time in the business and trusted by many others. In the world of production, there is always an extra 20% expense to cover unemployment, taxes, and the payroll company’s fee. But the modern digital payroll companies surely simplify the working process, allowing the production team to dedicate more time to the work.