ECONOMICS
MONEY MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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regular time
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overtime
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part time
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hourly
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Detailed explanation-1: -Section 51 and Section 59 of the Factories Act-1948[2] states, “No employee is supposed to work for more than 48 hours in a week and 9 hours in a day. Any employee who works for more than this period is eligible for overtime remuneration prescribed as twice the amount of ordinary wages.”
Detailed explanation-2: -The Fair Labor Standards Act (FLSA) states that any work over 40 hours in a 168 hour period is counted as overtime, since the average American work week is 40 hours-that’s eight hours per day for five days a week.
Detailed explanation-3: -[(iv) ] the total number of hours of overtime shall not exceed fifty for any one quarter.
Detailed explanation-4: -(1) Where a worker works in a factory for more than nine hours in any day or for more than forty-eight hours in any week, he shall, in respect of overtime work, be entitled to wages at the rate of twice his ordinary rate of wages.
Detailed explanation-5: -Overtime is defined as extra time worked in addition to an employees’ normal contracted hours. For example, if an employee is contracted to work 8 hours a day, and they work 9 hours, then this would mean they have done 1 hour of overtime.