Definition
Overtime pay refers to additional compensation provided to employees for working beyond their regular working hours or scheduled shift. Overtime pay rates are typically higher than regular hourly rates and may be subject to regulations, collective bargaining agreements, or company policies governing overtime work and compensation.
Our trending searches definitions
Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.