What term refers to individuals who work and receive wages or salary under applicable employment laws?

The term that refers to individuals who work and receive wages or salary under applicable employment laws is "Employees." Employees are individuals who enter into a contractual relationship with an employer, where they perform specific duties in exchange for compensation, which can take the form of hourly wages or a salary. This relationship is governed by various employment laws that afford employees certain rights, such as minimum wage, overtime pay, and benefits.

In contrast, independent contractors operate as self-employed individuals who perform work for others but are not classified as employees. They maintain control over how they complete their work and are not entitled to the same legal protections and benefits as employees. Interns may receive academic credit or a stipend but do not always qualify for wages under the Fair Labor Standards Act unless they meet certain criteria. Volunteers typically work without compensation and do not fall under the employment laws that govern paid employees, as they are offering their services without expectation of pay. Understanding these distinctions is crucial for correctly classifying workers and ensuring compliance with employment laws.