The extra time or the time that you have spent in the office apart from the work hours is the overtime. So, the hours that an employee has been in the office for more than the scheduled or fixed working hours is known as overtime. This concurrently impacts the remuneration of the employee. The overtime rate may vary. However, it is calculated as time and a half and double time. If an employee is working for more than 48 hours in a week or more than 9 hours in a day, he is doing overtime and must be paid for the same.