Create your free account now! Sign up

Re: being a w-2 employee and retainage

What you describe is probably illegal...varies by states....but in general an employer can ask that an employee sign for equipment or materials put into their care for company use. This is for inventory purposes. If and when the employee leaves employment the employer can ask for tools and materials back. Missing items cannot be deducted from paychecks. The employer can go to court and ask the court for permission to deduct monies but the employee can refuse to pay until ordered by the court. Employers cannot hold your money as retainage. (varies by state)

Employees get paid an agreed upon amount on a set day. Deductions cannot be made without the employee agreeing to it.
What your employer wants to look at is "bonding." Bonding companies take responsibilities for cash, materials and or equipment. IF you vanish with company money or stuff the bonding company will pay the employer and go after you.
They can also examine your background and decide not to bond you.

Employees who handle cash get bonded. Contractors post bonds.

Joe

joe
This is CABL.com posting #308192. Tiny Link: cabl.co/mbsk0
Posted in reply to: being a w-2 employee and retainage by CABLEDAWG2K
There are 0 replies to this message