Banked Hours Agreement Template

This company overtime policy is not contrary to legal guidelines. We follow the legislation in this area when we assign or compensate for overtime. In our company overtime policy, “standard working hours” are an employee`s regular working time. They are generally stipulated in employment contracts and follow legal guidelines with regard to minimum or maximum values. “Overtime” that can be compensated refers to any overtime at these hours. Our corporate overtime policy explains how we compensate employees for hours that go beyond their standard schedule. We want to: we have an obligation to compensate overtime pay in a timely manner at the correct rates of pay. Employees and managers should follow our time recording systems so that we can keep accurate records. This directive applies to all of our currently eligible employees. To meet the requirements for registration and overtime pay, we need a smooth procedure. We should record overtime on time. This is the procedure we propose: we want to avoid any misuse of the overtime system, either by our company or by employees who may give rise to legal disputes. We expect that if employees work on a shift-based system, we will not do so: the law may exempt some workers from overtime pay.

These employees receive overtime at the discretion of our company. All of the company`s excessive overtime provisions also apply to exempt workers. Staff should read this directive and direct all questions to our human resources department. Overtime may be required to deal with emergencies, high workloads or other problems. However, frequent and excessive overtime is not good for employee health and performance. The law may or may not allow excessive overtime, but we want to avoid losses in productivity and morality or work-related accidents due to fatigue.

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