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Should workers have legal rights as to *when* they are paid?

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    #32
    Permabear
    Closed Accounts Posts: 39,022 ✭✭✭✭Permabear


    This post has been deleted.


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    #33
    fungun
    Registered Users Posts: 1,120 ✭✭✭fungun


    i think he does have a valid point in there. There is an agreement in place that you work for a month, say. One could logically argue that if you are being paid monthly, the best compromise would be to pay you after 2 weeks for the month (so essentially you advance them 2 weeks worth of work, they advance you 2 weeks worth of pay); however you only get paid when the work is done, essentially offering your employer free credit for the time between paychecks.

    I know the lack of money is only a problem if you have no savings, but why should the employer be able to earn that interest rather than the employee?


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    #34
    Milk & Honey
    Banned (with Prison Access) Posts: 1,950 ✭✭✭Milk & Honey


    fungun wrote: »
    i think he does have a valid point in there. There is an agreement in place that you work for a month, say. One could logically argue that if you are being paid monthly, the best compromise would be to pay you after 2 weeks for the month (so essentially you advance them 2 weeks worth of work, they advance you 2 weeks worth of pay); however you only get paid when the work is done, essentially offering your employer free credit for the time between paychecks.

    I know the lack of money is only a problem if you have no savings, but why should the employer be able to earn that interest rather than the employee?

    Who knows what the employers cash flow position is? Some employers often have to borrow money to pay wages. Should they deduct the interest they have to pay from the wages?
    The employer offers a job at a certain rate and payable in a certain manner. The employee agrees and takes the job or doesn't. In commercial contracts goods are often delivered and the supplier has to wait months for payment. The right to interest only kicks in after 30 days and is hardly ever claimed.


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    #35
    The Corinthian
    Closed Accounts Posts: 19,777 ✭✭✭✭The Corinthian


    Milk & Honey wrote: »
    The employer offers a job at a certain rate and payable in a certain manner. The employee agrees and takes the job or doesn't. In commercial contracts goods are often delivered and the supplier has to wait months for payment. The right to interest only kicks in after 30 days and is hardly ever claimed.
    As I already posted, the amount of interest lost is in reality tiny, and in the vast majority of jobs easily compensated for through perks such as free coffee.

    But it is true that this occurs frequently in all sorts of commercial contracts. Another area where this occurs is in rental deposits. Many other countries regulate this, by creating special bank accounts, in the renter's name, which can only be claimed (including interest accrued) once the rental contract has ended.


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