Respuesta :
Despite the fact that, according to accounting standards and regulations, the income for such an order arrives in January. The overtime wages should be expensed in the month of December
Overtime wages is the sum due to the employee for the additional time spent on extra or unfinished job.
- According to the Factories Act's stipulations, overtime wages is double the regular rate of pay. There is an agreement between the employer and employee, thus the provisions of the Factories Act do not apply. For the overtime engagement, a higher salary rate is often compensated. All overtime labor must have the appropriate authorization. To oversee the employees' extra labor, a trustworthy person is chosen or assigned.
- Before making a payment, the relevant authority must first authorize a separate calculation of the overtime compensation. Each employee has an equal opportunity to complete the overtime labor.
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