payroll dictionary
 

Payroll Dictionary: O

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Outsourcing
The process of hiring an outside contractor to perform and be responsible for a function that normally would be performed by internal staff.

Overtime
A pay premium of 50% of the regular rate of pay that is earned by employees on all hours beyond the regular 40 hours per week.

 

For Canadian payroll and payroll outsourcing go to Paytrak.ca

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