I think the mandatory part is companies must provide at least that to employees, work all you want, but the lack of paid time off and sick leave for many US workers isn't a good thing
Upper limits - no. If they are fit to do the job I don't care how old they are.
Lower limits - I'm not sure. This is no longer the early days of the industrial revolution so we're not throwing people (children in particular) down chimneys to clean them and working conditions are much better, but at the same time they are children with brains that aren't fully formed so their judgement isn't exactly reliable. If they're working in a family business or similar that seems fine to me.