Overtime and Days in Lieu compensates employees when they are required to work in excess of the limits defined in the Employment Standards Code.
It is the policy of Arts Management Systems that allows Employees overtime hours to be banked and later taken off with pay, hour for hour, during regular work hours. Overtime hours can be banked for a period of 3 months. Banked time not taken within the 3 month period may be paid out at time-and-a-half.
In Alberta, under the Employment Standards Code, overtime is treated on a daily and/or weekly status. Overtime must be paid to all employees (regardless if they are paid a weekly, monthly, or annual salary except if they are exempt) on hours worked in excess of eight hours a day or 44 hours per week, whichever is greater (the higher of the two numbers is overtime hours worked in the week). The overtime rate is 1.5 times an employee’s regular rate of pay unless the employer and employee have entered into an overtime agreement.