Does anyone have informaiton on the new law in NY pertaining to commissioned salespeople? The deadline is coming soon.
The new law says that by October 16th, employers of commissioned salespeople in New York must prepare a written document,signed by both the employer and the employee, containing:
• A description of how wages, salary, drawing account, commissions, and allother monies earned and payable will be calculated;
• The frequency of reconciliation where the document provides for a recoverabledraw;
• Details related to the payment of wages, salary, drawing account, commissions,and all other monies earned and payable in the case of termination of employmentby either party.
Employers have to keep the doc on file for at least 3 years and make it available to the commissioner upon request. If the employer fails to produce the doc when requested, it will be presumed that that terms of employment that the commissioned salesperson has presented are the agreed terms of employment.