ECONOMICS

Detailed explanation-1: -The difference is called Idle Time, i.e., the employer pays but, in return, derives no benefit. In short, it explains the time for which wages are paid but produce no output or workers remain idle.

Detailed explanation-2: -Idle Time Defined Idle time is the time for which employees are paid, but for which they are not doing actual work.

Detailed explanation-3: -Idle time, sometimes referred to as waiting time, is the time lost due to work stoppages in which machines and/or employees are ready and available but can not be productive. It should not be confused with planned or unplanned downtime.

Detailed explanation-4: -Idle time refers to the period of time an asset is available for use but remains unproductive. Businesses also use the term to describe full-time employees who are “on the clock” but not working. Idle time, also referred to as waiting time, is the time when employees are unproductive.

Detailed explanation-5: -a) Idle time refers to the labour time paid for but not utilized on production. Whereas, overtime refers to the labour time paid for working beyond normal working hours as specified by Factories Act or by mutual agreement.