Overtime pay

• Philippine Labor Code - states that employees' regular work hours must not exceed eight hours a day.
• Equation for earnings:

  Earnings = Regular pay + overtime pay
• Equation for Regular pay:

  Regular pay = (regular rate)(regular pay)
• Equation for overtime pay:

  Overtime pay = (regular rate)(hourly rate or pay)(number of hours overtime)(overtime rate)
• Overtime Pay - or overtime premium. refers to the additional pay for work

  hours outside the regular hours. The regular and overtime rates vary according to the type of day
• Regular Day - refers to the regular working day agreed upon by the employer and the employee
• Rest Day - a day or days when a person is not required to work, as agreed upon by the employer and the employee
• Special Day - a Special Working Holiday or a Special Non-working Holiday. announced by the national or local government
• Regular Holiday - a fixed holiday, like New Year's Day, Independence Day, and Christmas Day. workers receive “double pay”
• what is this structure

  rates