What is 'overtime pay' in SAP LOD-SF-OBD - Onboarding?

overtime pay - Overview

• Component: LOD-SF-OBD

• Component Name: Onboarding

• Description: The additional compensation an employee receives for working longer than the standard contractual work hours.

overtime pay - Details

• 
  Key Concepts: 
  Overtime pay is a type of compensation that is paid to employees who work more than the standard number of hours in a given workweek. It is typically calculated as a percentage of the employee's regular rate of pay. In SAP, overtime pay is managed through the LOD-SF-OBD Onboarding component. 
  
  How to use it: 
  The LOD-SF-OBD Onboarding component allows employers to set up and manage overtime pay for their employees. This includes setting up overtime rules, calculating overtime pay, and tracking employee overtime hours. The component also allows employers to set up and manage other types of compensation, such as bonuses and commissions. 
  
  Tips & Tricks: 
  When setting up overtime rules, it is important to consider the local laws and regulations regarding overtime pay. Additionally, employers should ensure that their employees are aware of the overtime rules and that they are being properly compensated for any overtime hours worked. 
  
  Related Information: 
  For more information on managing overtime pay in SAP, please refer to the SAP Help Portal or contact your local SAP representative.