4 essential facts about overtime pay

Article 87 of the Labor Code provides for the rule on overtime work and overtime pay. What are some basic principles on overtime work?

[1] Work rendered beyond the normal eight (8) hours of work is called "overtime work." Hence, work within said normal hours of work cannot be considered overtime work even if workload is too heavy or schedule is too hectic.
[2] In computing overtime work, "regular wage" or "basic salary" means "cash" wage only without deduction for facilities provided by the employer.
[3] "Premium pay" means the additional compensation required by law for work performed within eight (8) hours on non-working days, such as regular holidays, special holidays and rest days. Premium pay and overtime pay can stack together.
[4] "Overtime pay" means the additional compensation for work performed beyond eight (8) hours. There may be overtime pay on a regular holiday, special day or rest day. These benefits stack together.