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The current industry status quo is essentially to use an information-based approach, but the report found that such an approach, which has the potential to misclassify some of the biggest names in the international/regional markets, probably is insufficient to maintain the integrity and reputation of the Islamic fund management industry.
Specifically, Pennsylvania's law provides that anyone who "intentionally contracts with an employer knowing the employer intends to misclassify employees" is subject to the same penalties and remedies as an employer found to be in violation of the law.
Given these risks, why do businesses continue to misclassify individuals as contractors?
Requires state unemployment insurance agencies to conduct auditing and investigative programs to detect employers that misclassify or fail to properly report compensation to workers with the effect of excluding employees from unemployment compensation coverage.
The Ohio legislative committee that investigated the Youngstown escape attributed the security risk problem to a deceptive practice by the District of Columbia's corrections department to misclassify the inmates.
The November 1990 report of the Government Operations Committee concluded that the prior-audit safe harbor of section 530 creates competitive disadvantages and provides protection against IRS reclassification to businesses that "blatantly" misclassify their workers.
Many companies rely on the workers' lack of knowledge when it comes to the FLSA and actively choose to misclassify workers in the interest of saving the business money by unlawfully dodging state and federal wage and hour laws, payroll taxes, unemployment insurance taxes and other state and federal requirements.
It is unfortunate that the ports must suffer delays because unscrupulous companies continue to violate the law and misclassify their drivers.
Workers' rights groups in Texas are revamping their efforts to increase protections for low-income laborers by urging lawmakers to crack down on employers that intentionally misclassify their employees.
Employers benefit because companies that misclassify workers can under-bid law-abiding employers by as much as 30 percent.
And they are seizing on lost tax dollars from employers who misclassify workers as independent contractors as one way to replenish their coffers.
Many state officials are of the view that businesses routinely misclassify their workers as independent contractors as a way to avoid the financial responsibilities of being their employer.
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- Miscarriage of Justice
- miscellaneous collection
- mischief rule
- misconduct oneself
- misdeed punishable by imprisonment
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- Miscible Accounting
- Miscible Fluids in Microgravity
- Miscible Interface Dynamics and Simulation
- miscible-phase displacement
- miscible-slug process
- Misclassified Planetary Nebula