Which act requires the payment of minimum wage and overtime payments?

The Fair Labor Standards Act (FLSA) is the legislation that mandates the payment of minimum wage and establishes the regulations surrounding overtime payments for employees. Enacted in 1938, the FLSA aims to protect workers by ensuring they are compensated fairly for their labor.

Under the FLSA, employers are required to pay employees a minimum wage, which is periodically updated at the federal level, along with potential additional state and local mandates that may set higher minimums. The Act also outlines the criteria for overtime, specifying that covered employees must be paid at least one and a half times their regular pay rate for hours worked over 40 in a workweek.

This is crucial in preventing exploitation and ensuring fair pay for workers across various industries. By establishing these standards, the FLSA plays a fundamental role in labor laws related to wage and hour regulations.