How much is the overtime pay for work rendered on a holiday or rest day?

The correct answer reflects that employees are entitled to 50% additional compensation for overtime work performed on holidays or rest days. This means that when an employee works during these designated times, their pay is not only based on their regular hourly rate but is enhanced significantly, acknowledging the inconvenience and impact of working during what is typically considered personal time.

In many labor laws, this premium pay serves to incentivize employees to take on additional hours during times when they would otherwise be off work, thereby fostering a work-life balance. Employers must follow these regulations to ensure they meet legal obligations and maintain employee satisfaction. Premium pay for holiday and rest day work serves to recognize the commitment of employees who sacrifice their time during these periods.