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Employees and independent contractors have very different benefits. Employees are entitled to the protection of wage and hour laws and are protected from discrimination and retaliation by employers. Employees may be legally entitled to family medical leave and benefits such as medical insurance and pension plans.
The employer's decision to terminate an employee also must be reviewed by an independent body to ensure the termination was indeed just and provide protection for employees from unfair or arbitrary termination (Pitchford, 2005). The three largest classes of just-cause employees are federal and state employees, as well as union members.
Benjamin Alarie, "Turning Standards into Rules Part 2: How Do Financial Risk Factors Affect Debt vs. Equity Determinations?" [25] Benjamin Alarie, "Turning Standards into Rules—Part 3: Behavioral Control Factors in Employee vs. Independent Contractor Decisions" [26]
Many employers try to save money on taxes and escape liability under employment laws by getting employees to sign Independent Contractor Agreements. There are some advantages to being an ...
The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...
In 2022, the U.S. Department of Labor released a proposal to revise the Department’s guidance on how to determine who is an employee or independent contractor under the Fair Labor Standards Act (FLSA). The proposed rule would make it easier for gig workers/independent contractors to gain full employee status. [75]
However, they may not receive all the same benefits as full-time employees and may not have the same job security. [2] Working as a contractor involves working on a short-term basis for a specific project or service, often as an independent contractor or freelancer. Contractors are usually paid on a project basis or hourly rate and are ...
An in-house landman works directly for the oil and gas company as an employee, usually in their land department. They are likely to be involved in trades with other operators, negotiating trade participation, and joint operating agreements. A field landman is an independent contractor that interfaces with in-house landmen.
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