Hello and welcome to today's video! Let's dive into the topic of overtime premium and how it's calculated. #OvertimePremiumExplained

Overtime premium is the additional pay employees receive for working beyond 40 hours in a workweek. It's crucial to understand how it's calculated to ensure fair compensation.

To calculate overtime premium, multiply the employee's regular rate of pay by 1.5. The regular rate of pay is determined by the employee's wage structure. For example, if the regular rate is $10 per hour, the overtime premium would be $15 per hour.

Remember these key points when calculating overtime premium:
1⃣ Overtime premium is applicable only for hours worked beyond 40 in a workweek.
2⃣ It doesn't apply to holidays, weekends, or other paid time off.
3⃣ Collective bargaining agreements may have different provisions for overtime pay.

Ensuring fair compensation is important. If you suspect you're not receiving the overtime premium you're entitled to, consider filing a complaint with the Wage and Hour Division of the U.S. Department of Labor.

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