Ashley works 40 hours a week and is paid a weekly salary for those 40 hours. As a covered, nonexempt employee, Ashley must be paid a minimum weekly salary of $290 in order to meet the statutory minimum wage requirement. The minimum wage does not always have to be paid in monetary terms.
DEFINITION of 'Prepayment'. The satisfaction of a debt or installment payment before its official due date. A prepayment can be for the entire balance or for any upcoming payment that is paid in advance of the date for which the borrower is contractually obligated to pay it.Examples of a prepayment come in the form of rent or early loan repayments.Next Up.EFINITION of 'Prepayment'. The satisfaction of a debt or installment payment before its official due date. A prepayment can be for the entire balance or for any upcoming payment that is paid in advance of the date for which the borrower is contractually obligated to pay it.
Pay Rate. The Pay Rate is the amount being paid to the contingent worker by the staffing agency. Pay Rates are the largest component of the Bill Rate, and plays a significant role in retention, resource quality, and time to fill.The Pay Rate is the #1 factor for enabling a supplier to recruit a resource and provide great service.arkups are generally applied as a percentage on top of the Pay Rate. Markups can be considered to have three elements: 1  Pass through costs that adjust over the contract (employment taxes). 2  Fixed Pass through costs (agreed to costs like workerâs comp, insurance etc).