Question: what is the difference between premium pay and overtime pay?
Answer: Premium overtime is calculated on one-and-a- half times the regular rate of time (1 hours of premium OT worked = 1.5 hours earned). Actual time worked: 46 hours (40+6=46). 46 is more than 40, so... Straight overtime is time worked that is more than an employee's regularly scheduled hours but less than 40 hours.