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New River Community and Technical College COMPENSATORY TIME/OVERTIME AGREEMENT Compensatory and/or overtime must be PREAPPROVED by the supervisor and the Chief Financial Officer. Without prior approval,

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How to fill out compensatory time agreement

01

To fill out a compensatory time agreement, follow these steps:

02

Start by including the names and contact information of the employer and employee involved in the agreement.

03

Specify the start and end dates for which the agreement is valid.

04

Clearly state the purpose of the compensatory time agreement, such as the need for additional time off in exchange for overtime worked.

05

Outline the terms and conditions of the agreement, including the number of hours of compensatory time earned and the timeframe within which it must be used.

06

Include any limitations or restrictions on the use of compensatory time, such as requirements for advance notice or approval from the employer.

07

Detail the process for tracking and recording compensatory time hours, including the frequency of reporting and any required documentation.

08

Specify the method for paying out compensatory time, whether it be in the form of time off or monetary compensation.

09

State the rights and responsibilities of both the employer and employee regarding the compensatory time agreement.

10

Include a section for both parties to sign and date the agreement, indicating their understanding and acceptance of its terms.

11

Finally, make sure to keep a copy of the filled-out compensatory time agreement for both the employer and employee's records.

Who needs compensatory time agreement?

01

Compensatory time agreements are typically needed by employees who regularly work overtime and wish to accumulate additional time off as a form of compensation instead of receiving immediate overtime pay.

02

Employers who are willing to offer compensatory time off to their employees as an alternative to overtime payment also need to establish compensatory time agreements.

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What is compensatory time agreement?

A compensatory time agreement is an agreement between an employer and employee that allows the employee to take time off work in lieu of receiving overtime pay.

Who is required to file compensatory time agreement?

Employers and employees who agree to compensate for overtime hours with time off work must file a compensatory time agreement.

How to fill out compensatory time agreement?

To fill out a compensatory time agreement, both the employer and employee must agree on the terms, including the amount of compensatory time, how it will be calculated, and when it can be taken.

What is the purpose of compensatory time agreement?

The purpose of a compensatory time agreement is to provide flexibility for both employers and employees in managing work hours and compensating for overtime.

What information must be reported on compensatory time agreement?

A compensatory time agreement must include the names of the employer and employee, the date the agreement was made, the terms of the agreement, and signatures of both parties.

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