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I just spent the last hour on the phone with the Labor Dept, hashing over the entire "punch in/out" versus shift issue. The short version is this ... you DO NOT have to punch in when there's work and then punch out when there's no work. You punch in at the start of your shift and punch out at the end of your shift (or when you take an extended break, such as lunch). If you're available to work but there's no work available, you still have to be compensated for that time. This is based upon a full work week, not individual days.
I can't prove it ... but after speaking with the Labor Dept, I believe the reason for the clocking in/out is because the company is making money while you're working, but if you're not working then they're not making money, and they don't want to pay you for work you're not doing.
Click on the link below to take you to the web page and then read the infor under 785.14, 785.15, and 785.16.
I hope this clarifies things for everyone.