The Tradeco Advantage: Tradeco Construction employs payroll professionals that are experts in wage compliance laws. You can count on Tradeco to ensure all Tradeco employees assigned to your project are receiving legally-mandated pay rates. Tradeco also accurately and timely prepares required Certified Payroll Reports which can be delivered to all appropriate parties, either electronically or by hard copy.
Most states have Prevailing Wage laws that require contractors to pay no less than the minimum rates (to include wages, benefits, and/or other payments) published periodically by each state whenever any project is partially and/or fully funded by state and/or local government. The rules and regulations vary from state to state.
The Federal law known as the Davis-Bacon Act applies to federally funded construction projects. In these types of projects, the Federal Government entity issuing the contract typically incorporates minimum rates to pay workers as part of the contract and those rates typically stay in force through the completion of the project. The rules and regulations vary from contract to contract.
If you are working on any project that is subject to Prevailing Wage and/or the Davis-Bacon Act, you are required to not only comply with the minimum rates, but also carefully prepare and provide Certified Payroll Reports on a weekly basis to the General Contractor and/or the entity issuing the prime contract. It is also up to your company to be sure anyone you subcontract, including manpower services, is also complying with these laws. Not complying with Prevailing Wage and/or Davis Bacon laws can lead to harsh civil, and in some cases, criminal, penalties.
Because supplying quality, W2-employed tradespeople is all we do, we are experts at wage regulations and laws – and we help you simplify your compliance with these laws by doing the work for you. It is just another Tradeco Advantage.