Explanation:
Salaried employees are usually exempt from overtime pay but are expected to complete their tasks irrespective of the time it takes. Their compensation package might include benefits such as health insurance and retirement plans.
Practical Example of a Salaried Employee:
An HR manager at a corporation receives a fixed annual salary of $75,000, paid in monthly installments. They are expected to fulfill their responsibilities, which may sometimes require working beyond standard office hours, without additional overtime pay.
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