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Independent contractors indeed are not
entitled to minimum wage, nor are they entitled to overtime, or the vast majority of other statutory protections afforded to employees through the Labor Code. The sole remedy for a contractor who has not been paid pursunt to the terms of his or her agreement is to sue for breach of contract in civil court.
Because of the significant difference between the rights of contractors and employees, the Labor Board and IRS closely scrutinize contractor relatioships to ensure that such workers have been properly classified and that their employer is not using contractor classification simply to avoid paying minimum wage, overtime, etc.
In order to be properly classified as a contractor, the worker must retain significant control
over the means by which they perform their work. See here for more information as well as the IRS Form SS-8, which asks a series of questions to help employers determine whether a worker is properly classified as an employee or contractor: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Independent-Contractor-%28Self-Employed%29-or-Employee%3F
If you would like to discuss the distinction between contractors and employees in further detail, please do not hesitate to let me know. If this addresses your concern, I would be most greatful for a positive rating of my service so that I may receive credit for assisting you.
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