With respect to each employee of a retail or service establishment
exempt from the overtime pay requirements of the Act pursuant to the
provisions of section 7(i), employers shall maintain and preserve
payroll and other records containing all the information and data
required by Sec. 516.2(a) except paragraphs (a) (6), (8), (9), and (11),
and in addition:
(a) A symbol, letter or other notation placed on the payroll records
identifying each employee who is paid pursuant to section 7(i).
(b) A copy of the agreement or understanding under which section
7(i) is utilized or, if such agreement or understanding is not in
writing, a memorandum summarizing its terms including the basis of
compensation, the applicable representative period and the date the
agreement was entered into and how long it remains in effect. Such
agreements or understandings, or summaries may be individually or
collectively drawn up.
(c) Total compensation paid to each employee each pay period
(showing separately the amount of commissions and the amount of
noncommission straight-time earnings).
