The Fair Labor Standards Act (FLSA) is the federal law that sets minimum wage, overtime pay, and recordkeeping requirements for employees.

The FLSA covers employees who are engaged in interstate commerce, which includes employees who work in businesses that produce goods or services that are sold or shipped across state lines.

The minimum wage under the FLSA is $7.25 per hour.

The overtime pay rate under the FLSA is time and a half, which means that employees must be paid 1.5 times their regular hourly rate for hours worked over 40 in a workweek.

Employees are entitled to overtime pay for hours worked over 40 in a workweek.

There is no limit on the number of hours that an employee can work in a workweek, but employees are entitled to overtime pay for hours worked over 40 in a workweek.

The FLSA's overtime pay requirements do not apply to executives, administrators, professionals, or outside sales employees.

Employers must keep records of employees' hours worked and wages paid, employees' names and addresses, and employees' dates of birth.

The penalties for violating the FLSA's overtime pay requirements include fines, imprisonment, and back pay.

The best way to ensure that employees are paid overtime pay correctly is to consult with an employment lawyer, create a clear overtime pay policy, and keep accurate records of employees' hours worked and wages paid.

Overtime pay is paid in cash, while comp time is paid in time off. Overtime pay is paid at a higher rate than comp time. Overtime pay is mandatory, while comp time is voluntary.

Offering comp time to employees can help to reduce overtime costs, improve employee morale, and help to attract and retain employees.

Offering comp time to employees can be difficult to track and manage, it can lead to employees taking time off when the business needs them most, and it can be difficult to calculate the value of comp time.

The best way to determine whether to offer comp time to employees is to consider the size of the business, the industry in which the business operates, and the needs of the employees.

Best practices for managing comp time include creating a clear comp time policy, tracking and managing comp time carefully, and communicating with employees about comp time.