Decoding Overtime Pay: Calculation & Overview Are you aware of how overtime pay is calculated and what it entails? Understanding the intricacies of overtime pay is crucial for both employers and employees. Overtime pay refers to the additional compensation that employees receive for working beyond their regular working hours. It is important to know the rules, regulations, and calculations involved in overtime pay to ensure fair compensation and compliance with labor laws. 1. What is Overtime Pay? Overtime pay is the additional compensation that employees receive for working more than a certain number of hours in a workweek. The purpose of overtime pay is to provide extra remuneration to employees…