How To Use
This review list is provided to inform you about this document in question and assist you in its preparation. Good corporate housekeeping requires you have a stated Overtime policy, even if not used.
Any review of your payroll records by a government agency will involve identifying policies such as Overtime. Having a policy in place simplifies that kind of investigation and is suggestive to the evaluating bureaucrat that you have your house more in order than most companies.
Our business advice is to have the Company President sign and date the form so it has the full force and effect of that office.
Overtime will be paid in accordance with all applicable laws and in accordance with this policy, until further notice, as follows:
All overtime must be approved by the employee’s departmental manager in writing before any overtime is worked. No employee shall work overtime without such express authorization. An Overtime Form must be filled out by a department manager, indicating the estimated hours of overtime to be worked and the purposes to justify the additional expense involved by using Overtime to do so.
2. Procedure for Payment.
A form must be completed with the actual hours worked and given to payroll within one (1) week of working any overtime. Payment for approved overtime will be given one (1) pay period after the time the completed form is received by the person responsible for payroll of that department.
Authorized Employee of Company