The Ultimate Guide to Entertainment Payroll
With the need for evolved production methodology, the production administration is making use of different rapidly growing technologies to handle the entertainment payroll works. This post talks about the role of production payroll services and the reason behind their popularity.
What does entertainment payroll service refer to?
When a full-service provider processes accurate paychecks timely and handles the tasks related to payroll taxes, union fees, workers compensation insurance, etcIt’s said that such an organization provides entertainment payroll services.
The job role of an entertainment payroll company
For production companies, the entertainment payroll organizations act as the on record employer. It caters to the payroll of the crew and casts in film, television, and other commercial productions.
Such companies hold an extensive understanding of the industry’s wage patterns and hour laws. Additionally, it designs different guidelines and strategies that include overtime rules, meal periods, penalties, etc.
A production payroll company is always well acquainted with the set guidelines and regulations of the local guilds and unions. It sets the wage scale and the benefits for the employees with the help of collective bargaining agreements. The rules usually differ from one union to the other.
Significance of hiring entertainment payroll companies
Only a few industries hold stumbling blocks like the entertainment industry. When it comes to managing the payroll part, it requires a hardcore understanding of the needs of the production company.
This is the scenario when reliable production payroll services come into play. They hold exclusive knowledge of the legalities related to the industry. Additionally, they are equipped with profound knowledge of the contribution rates to health, pension, and welfare funds.
They work with tight timelines without compromising on accuracy. They master the art of synchronizing all the data from the set to the production offices. Naturally, it allows production companies to make the job of their in-house accountant convenient and perfect.
Fair Labor Standards Act and production payroll
The Fair Labors Standards Act (FLSA) was introduced in the year 1938, and it aims to prevent workers from predatory practices. This is the act that sets the bar for contemporary labor law. Needless to say, the FLSA implies to the workers of the entertainment industry as well.
Previously, production companies used to manage the scenario by classifying employees as contractors. However, the “new misclassification” guidelines have omitted the chance to implement the same idea.
Breaching the set guidelines of FLSA may hit the production companies heavily. Thankfully, companies that offer efficient production payroll services are well acquainted with the FLSA guidelines, and they help production agencies to abide by them, omitting the scope of any unwanted hassle.
Given the benefits offered by a professional entertainment payroll service renderer, many leading production houses have opted to hire them, and they are happily enjoying the benefits of the same. Therefore, it’s highly recommended to leverage the benefits of hiring such professionals to manage the payroll-related jobs of production houses in a hassle-free manner.