{"id":1250,"date":"2024-03-13T17:04:03","date_gmt":"2024-03-13T04:04:03","guid":{"rendered":"https:\/\/www.workstem.com\/au\/blog\/auto-draft\/"},"modified":"2024-03-15T03:08:31","modified_gmt":"2024-03-14T14:08:31","slug":"closely-held-employee-vs-salary-wages-employee-whats-the-difference","status":"publish","type":"post","link":"https:\/\/www.workstem.com\/au\/blog\/closely-held-employee-vs-salary-wages-employee-whats-the-difference\/","title":{"rendered":"Closely Held Employee vs. Salary &#038; Wages Employee: What&#8217;s the Difference?"},"content":{"rendered":"<div class='post-index' id='post-index'><a href='###' id='post-index-close'><i class='fa fa-list'><\/i><\/a>\r\n\t\t\t\t<h3 class='post-index-title'>Table of content<\/h3>\r\n\t\t\t\t<div class='post-index-inner' id='post-index-inner'>\r\n\t\t\t\t<ol class='post-index-list'><li class=\"post-index-item\" data-tt=\"title-idx-0\" ><a href=\"###\"title=\"What is a closely held employee?\">What is a closely held employee?<\/a><\/li><li class=\"post-index-item\" data-tt=\"title-idx-1\" ><a href=\"###\"title=\"What is a salary and wages employee?\">What is a salary and wages employee?<\/a><\/li><li class=\"post-index-item\" data-tt=\"title-idx-2\" ><a href=\"###\"title=\"Difference between closely held employee and salary &amp; wages employee\">Difference between closely held employee and salary &amp; wages employee<\/a><\/li><li class=\"post-index-item\" data-tt=\"title-idx-3\" ><a href=\"###\"title=\"How to efficiently manage closely held employee and salary &amp; wages employees with Workstem?\">How to efficiently manage closely held employee and salary &amp; wages employees with Workstem?<\/a><\/li><\/ol>\r\n\t\t\t<\/div><\/div>\r\n\t\t\t<script>\r\n\t\t\t$(function(){\r\n\t\t\t\tvar contIdxHeight = $('#post-index-inner').height()+20;\r\n\t\t\t\t$('#post-index-inner').css('height',contIdxHeight+'px');\r\n\t\t\t\t$('#post-index-close').on('click',function(){\r\n\t\t\t\t\tif($('#post-index-inner').height()>20) {\r\n\t\t\t\t\t\t$('#post-index-inner').css('height',0);\r\n\t\t\t\t\t\t$('#post-index-inner').css('padding-top',0);\r\n\t\t\t\t\t} else {\r\n\t\t\t\t\t\t$('#post-index-inner').css('height',contIdxHeight+'px');\r\n\t\t\t\t\t\t$('#post-index-inner').css('padding-top','20px');\r\n\t\t\t\t\t}\r\n\t\t\t\t});\r\n\t\t\t\t$('.post-index-item').on('click',function(){\r\n\t\t\t\t\tvar tt=$(this).data('tt');\r\n\t\t\t\t\tscrollPosition(document.getElementById(tt));\r\n\t\t\t\t});\r\n\t\t\t});\t\r\n\t\t\t<\/script><div class='post-content-full'><h2 id=\"title-idx-0\" class=\"icon-anchor\">What is a closely held employee?<\/h2>\n<p>A closely held employee refers to an individual who is an employee of a closely held company. Closely held companies are typically privately owned and have a limited number of shareholders, often including family members or a small group of investors. These employees are closely tied to the business and may have a significant stake in its success.<\/p>\n<h2 id=\"title-idx-1\" class=\"icon-anchor\">What is a salary and wages employee?<\/h2>\n<p>A salary and wages employee is someone who receives a fixed amount of money on a regular basis for their work, regardless of the number of hours worked. The salary is typically paid on a monthly or bi-weekly basis. A wage employee, on the other hand, is typically paid based on the number of hours worked and may receive overtime pay if they work more than a certain number of hours in a week. Both types of employees are entitled to certain benefits and protections under employment laws.<\/p>\n<h2 id=\"title-idx-2\" class=\"icon-anchor\">Difference between closely held employee and salary &amp; wages employee<\/h2>\n<p>A closely held employee typically refers to someone who owns a significant portion of a business or is a key decision-maker within the company. These employees often have a significant stake in the success of the business and may have more influence over its operations.<\/p>\n<p>On the other hand, a salary and wages employee is typically someone who is paid a fixed amount of money on a regular basis for their work. They may not have an ownership stake in the company or be involved in high-level decision-making processes.<\/p>\n<p>In summary, the main difference between a closely held employee and a salary and wages employee is their level of ownership and influence within the company.<\/p>\n<h2 id=\"title-idx-3\" class=\"icon-anchor\">How to efficiently manage closely held employee and salary &amp; wages employees with Workstem?<\/h2>\n<p>Simplify your payroll process and ensure accurate pay rates with Workstem\u2019s automated <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.workstem.com\/au\/product\/payroll\/\" target=\"_blank\" rel=\"noopener\">payroll system<\/a><\/span>. Our pre-built modern <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.workstem.com\/au\/product\/award-interpretation\/\" target=\"_blank\" rel=\"noopener\">award interpretation software<\/a><\/span> covers 122+ awards and 34 EBAs, and keeps you up-to-date with penalty rates and other award entitlements.<\/p>\n<p>Choose between our <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.workstem.com\/au\/pricing\/\" target=\"_blank\" rel=\"noopener\">Standard and Advanced plans<\/a><\/span>, and enjoy a range of benefits such as Fair Work compliance, an employee self-service App, and customised rule set.<\/p>\n<p>Book a free demo with our payroll experts. Experience the efficiency and accuracy of <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.workstem.com\/au\/\" target=\"_blank\" rel=\"noopener\">Workstem<\/a><\/span> today!<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Table of content What is a closely held employee?What is a salary and wages employee?Difference between closely held employee and salary &amp; wages employeeHow to efficiently manage closely held employee and salary &amp; wages employees with Workstem? What is a closely held employee? A closely held employee refers to an individual who is an employee&#8230;<\/p>\n","protected":false},"author":9,"featured_media":1252,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[41,51],"class_list":["post-1250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-all","tag-hr-tech"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Closely Held Employee vs. Salary &amp; Wages Employee: What&#039;s the Difference?| Workstem<\/title>\n<meta name=\"description\" content=\"What is a closely held employee?What is a salary and wages employee? Difference between closely held employee and salary &amp; wages employee.How to efficiently manage closely held employee and salary &amp; wages employee with Workstem? 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