Overtime Pay is the cash compensation for the hours eligible employees work in excess of 40 hours in a workweek (a workweek = 7x24= 168 hours). According to the Fair Labor Standard Act (FLSA ) the overtime pay rate for eligible employees is one and one-half (1.5) times their regular working hour rate of pay.
For example: if you earn $20 per hour your overtime pay rate, if you
are eligible, must be at least $30 per hour: $20 per hour x 1.5 = $30
Normally overtime pay earned in a workweek must be paid on the regular payday for the pay period in which the wages were earned.