Difference between revisions of "Advances on payroll to staff members"
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There is no guarantee that Free Geek will be able to give an advance to a staff member, however we recognize that there will occasionally be a need for an advance. | There is no guarantee that Free Geek will be able to give an advance to a staff member, however we recognize that there will occasionally be a need for an advance. | ||
* Advances should be cleared through the C7 committee. | * Advances should be cleared through the C7 committee. | ||
| − | * An advance should not exceed | + | * An advance should not exceed forty percent of the amount the worker normally receives in a paycheck (before taxes). |
* Advances should not be routinely given out over several consecutive months. | * Advances should not be routinely given out over several consecutive months. | ||
* In no circumstances will an advance be given out if the C7 committee believes there will not be enough funds to cover the advance and the normal cash flow needs of Free Geek. | * In no circumstances will an advance be given out if the C7 committee believes there will not be enough funds to cover the advance and the normal cash flow needs of Free Geek. | ||
* If the total amount owed exceeds forty percent of the worker's normal paycheck (before taxes) or if there has been no payment in a three month period, then C7 will arrange for automatic deductions that would pay off the debt within a year's time. | * If the total amount owed exceeds forty percent of the worker's normal paycheck (before taxes) or if there has been no payment in a three month period, then C7 will arrange for automatic deductions that would pay off the debt within a year's time. | ||
| + | * Staff may get paid early: A staff member may receive an advance for up to her whole paycheck if it is paid back with her next paycheck. | ||
[[Category: Policy]] | [[Category: Policy]] | ||
[[Category: C7]] | [[Category: C7]] | ||
[[Category:Accounting]] | [[Category:Accounting]] | ||
Revision as of 10:39, 25 August 2006
There is no guarantee that Free Geek will be able to give an advance to a staff member, however we recognize that there will occasionally be a need for an advance.
- Advances should be cleared through the C7 committee.
- An advance should not exceed forty percent of the amount the worker normally receives in a paycheck (before taxes).
- Advances should not be routinely given out over several consecutive months.
- In no circumstances will an advance be given out if the C7 committee believes there will not be enough funds to cover the advance and the normal cash flow needs of Free Geek.
- If the total amount owed exceeds forty percent of the worker's normal paycheck (before taxes) or if there has been no payment in a three month period, then C7 will arrange for automatic deductions that would pay off the debt within a year's time.
- Staff may get paid early: A staff member may receive an advance for up to her whole paycheck if it is paid back with her next paycheck.