There are federal laws which apply to the payment of wages. The federal law applicable to minimum wage and overtime pay is called the Fair Labor Standards Act. The Fair Labor Standards Act is the law which sets the standard of minimum wage. Presently, minimum wage is $7.25 per hour. However, this amount changes frequently, so it is always necessary to verify the current federal minimum wage. Some states have higher prevailing minimum wage amounts. In such an instance, the higher amount must be paid when operating in that state. In addition, the Fair Labor Standards Act provides for overtime pay standards. Pursuant to the law, employers of covered employees must pay an overtime amount of at least one and a half times of the hourly rate. Finally, under the Act, some industries are excluded from the Act's provisions, such as certain types of agricultural employees.