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If an LLC declares bankruptcy how are owed employee wages handled?
Wiki User
∙ 9y ago
If an LLC declares Chapter 11 bankruptcy the employees wages will continue to be paid as normal. However, under a Chapter 7 bankruptcy, the employees are listed as creditors, and wages are paid out with other creditors from any remaining assets, if any remain.
Wiki User
∙ 9y ago
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If your wages were garnished and your employer is holding the money in an account how do you get the money released to you after bankruptcy has been awarded?
The back wages will not be released to the employee until the bankruptcy is discharged and the employer is notified by the court that the arrearages have been exempted from seizure.
Can a Ca employer hold an employees wages?
There are situations where a California employer can hold an employee's wages. If the employee's wages are being garnished the employer can hold them.
Can wages be garnished if you do not make enough?
Bankruptcy can actually stop wage garnishments. If you can provide proof of financial hardship, wages won't be garnished during the bankruptcy.
If an employee steals from his employer can this amount be added to the employee's wages as taxable income?
This money cannot be added to the employee's wages as taxable income. This money is not theirs and should be reported to the police.
What are Employee wages are an example of?
variable cost
What is Remunaration?
It is the wages and bonuses paid to an employee.
If employer makes a mistake calculating past wages can the employer take back overpayment of wages from employee?
Yes. It is the employee's responsibilty to ensure their salary is correct.
What were wages in pulp mills in 2001?
Employee wages averaged $21.41 per hour in 2001
Could we get reimburse for check issued to wrong employee?
Yes, you may cancel this check or demand reimbursement for whatever the employee owes in excess of their duly earned wages for that pay period. The employee has no entitlement to wages they did not earn.
Are employees wages protected in bankruptcy?
NO first the Government then the banks then everyone else.
What happens to your wage garnishment when the company files bankruptcy?
your wages still garnished
What percentage can a company garnish an employee's wages?
First, a company can not garnish an employee's wages. A court order is required to begin a garnishment of wages which a company is legally required to follow. Federal law mandates that a maximum of 60% of an employee's income can be garnished. This amount is determined by a judge and varies from situation to situation.
